DURHAM — Life science giant Iqvia Holdings Inc. (IQV) on Tuesday reported second-quarter financials that topped Wall Street expectations.
“Iqvia continues to execute well in a challenging macro environment, delivering another quarter of strong operational and financial results,” said Ari Bousbib, chairman and CEO of Iqvia, in a statement. “Clients on the commercial side remain cautious and spending has not accelerated yet. The clinical business is resilient and performing consistently with our expectations. Industry fundamentals are strong, as reflected in our $2.7 billion of bookings in the quarter and new record highs for RFP [request for proposal] flow and backlog.”
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Quarterly earnings came in at $297 million.
The Durham-based company said it had net income of $1.59 per share. Earnings, adjusted for one-time gains and costs, were $2.43 per share.
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The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.37 per share.
The clinical testing company posted revenue of $3.73 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $3.7 billion.
For the current quarter ending in September, IQVIA expects its per-share earnings to range from $2.39 to $2.49.
The company said it expects revenue in the range of $3.76 billion to $3.81 billion for the fiscal third quarter.
IQVIA expects full-year earnings in the range of $10.20 to $10.45 per share, with revenue ranging from $15.05 billion to $15.18 billion.
