Iqvia beats Street earnings expectations but revenues miss

DURHAM — Iqvia Holdings Inc. (IQV) on Wednesday reported third-quarter earnings of $303 million.

On a per-share basis, the Durham-based life sciences company said it had net income of $1.63. Earnings, adjusted for one-time gains and costs, came to $2.49 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.46 per share.

The clinical testing company posted revenue of $3.74 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $3.78 billion.

For the current quarter ending in December, Iqvia expects its per-share earnings to range from $2.79 to $2.86.

The company said it expects revenue in the range of $3.77 billion to $3.8 billion for the fiscal fourth quarter.

Iqvia expects full-year earnings in the range of $10.16 to $10.23 per share, with revenue ranging from $14.89 billion to $14.92 billion.