IQVIA Reports Strong Q2 Earnings, Beats Expectations and Raises Forecasts for 2024

IQVIA Holdings Inc. recently announced its second-quarter earnings, surpassing expectations and prompting analysts to adjust their forecasts. The company reported an adjusted earnings per share (EPS) of $2.64, an increase from $2.43 in the same quarter last year. This figure exceeded market predictions, which had anticipated an EPS of $2.57. Additionally, IQVIA posted sales of $3.81 billion, which also beat the consensus estimate of $3.79 billion. These figures underline the strong performance of IQVIA in the advanced analytics sector.

The revenue breakdown shows that the Technology & Analytics Solutions (TAS) segment generated $1.5 billion, reflecting a 2.7% increase on a reported basis. At constant currency, this improvement was slightly higher at 3.8%. Similarly, the Research & Development Solutions (R&DS) segment saw revenues reaching $2.15 billion, marking a 2.4% rise in reported numbers and a 3.3% increase at constant currency. CEO Ari Bousbib highlighted that the results fell at the high end of guidance, largely due to the strong performance of the TAS segment.

Looking ahead, IQVIA has revised its revenue expectations for 2024, now forecasting between $15.43 billion and $15.53 billion. Previous guidance had anticipated revenues ranging from $15.33 billion to $15.58 billion. The company also raised its adjusted EPS projections for next year, now estimating between $11.10 and $11.30, compared to the earlier guidance of $10.95 to $11.25. Following these positive developments, shares of IQVIA closed at $245.23 on Monday, and analysts have begun adjusting their price targets based on the company’s promising outlook.