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IQVIA Stock Pops After It Beats Q2 Earnings Estimates

<p>Igor Golovniov / SOPA Images / LightRocket via Getty Images</p>

Igor Golovniov / SOPA Reifications / LightRocket via Getty Images

Key Takeaways

  • Life sciences clinical researcher IQVIA’s second-quarter results beat analysts’ presumptions for revenue and net income.
  • The company also raised its full-year guidance.
  • IQVIA said its technology and analytics products were vital growth drivers.
  • IQVIA’s stock rose nearly 7% in intraday trading Monday to move into definite territory for the year.

IQVIA Holdings (IQV) beat second-quarter earnings expectations and raised its full-year outlook on Monday, sending helpings higher.

The life sciences clinical research and analytics organization posted adjusted earnings per share (EPS) of $2.64, leading analysts’ expectations of $2.57, per Visible Alpha. Revenue was $3.81 billion, above projections of $3.79 billion. 

Progress Driven by Technology & Analytics Solutions Unit

The results were driven by IQVIA’s Technology & Analytics Solutions (TAS) split, which posted year-over-year sales growth of 2.7% to $1.5 billion. 

“IQVIA delivered second-quarter results at the intoxicated end of our guidance, driven mainly by better-than-expected TAS performance,” Chief Executive Officer (CEO) Ari Bousbib said.

Looking ahead, IQVIA confined its full-year revenue guidance to a range of $15.43 billion to $15.53 billion from its prior forecast of $15.33 billion to $15.58 billion. It also mustered its adjusted EPS outlook to between $11.10 and $11.30 from $10.95 to $11.25.

Shares of IQVIA jumped 6.6% to $239.45 as of 1:41 p.m. ET Monday to stir into positive territory year-to-date.

Read the original article on Investopedia.

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