DURHAM – Life science giant Iqvia Holdings Inc. (IQV) on Tuesday reported second-quarter net income of $175 million, after reporting a loss in the same period a year earlier.
“We exceeded our targets across all key financial metrics and delivered exceptional organic revenue growth as well as robust earnings and free cash flow,” said Ari Bousbib, chairman and CEO of Iqvia, in a statement. “Both the TAS [technology and analytics solutions] and R&DS segments sustained their momentum, reporting strong double-digit organic growth.
“The outlook for the life sciences industry remains healthy and we expect continued strength in demand for our differentiated clinical and commercial offerings,” he added. “As a result of our performance and the sustained market momentum, we are once again raising our full-year 2021 financial guidance.”
On a per-share basis, the Durham, North Carolina-based company said it had profit of 90 cents. Earnings, adjusted for one-time gains and costs, were $2.13 per share.
- MORE COVERAGE: Read the full earnings report online.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.07 per share.
The clinical testing company posted revenue of $3.44 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $3.26 billion.
For the current quarter ending in October, IQVIA expects its per-share earnings to range from $2.06 to $2.13.
The company said it expects revenue in the range of $3.29 billion to $3.37 billion for the fiscal third quarter.
IQVIA expects full-year earnings in the range of $8.70 to $8.90 per share, with revenue ranging from $13.55 billion to $13.7 billion.
IQVIA shares have risen 38% since the beginning of the year. The stock has increased 57% in the last 12 months.
