IQVIA Holdings (IQV) Tops Q2 EPS by 6c, Revenues Beat; Boosts FY18 EPS/Revenue Outlook Above Consensus
IQVIA Holdings (NYSE: IQV) reported Q2 EPS of $1.29, $0.06 better than the analyst estimate of $1.23. Revenue for the quarter came in at $2.57 billion versus the consensus estimate of $2.5 billion.
“We delivered another quarter of strong operating and financial performance, which included Adjusted Diluted EPS growth of over 25 percent year-over-year,” said Ari Bousbib, chairman and CEO of IQVIA. “The significant strategic investments we have been making in innovation across our businesses over the past eighteen months are beginning to build operating momentum. The team secured major wins for our tech offerings during the quarter, and we had our largest ever R&D bookings quarter, including record awards for our next generation clinical development offering. Reflecting this strong operating performance, we are pleased to raise our revenue and profit guidance for the year.”
- Revenue $2,567 million, up 9.0 percent reported and 7.7 percent at constant currency
- Adjusted EBITDA $533 million, up 14.1 percent reported and 14.3 percent at constant currency
- GAAP Diluted Earnings per Share $0.29
- Adjusted Diluted Earnings per Share $1.29, up 25.2 percent
- Full-year guidance raised for revenue, Adjusted EBITDA and Adjusted Diluted EPS
- $573 million of share repurchase completed during the second quarter; $659 million completed year-to-date
GUIDANCE:
IQVIA Holdings sees FY2018 EPS of $5.35-$5.55, versus the consensus of $5.40. IQVIA Holdings sees FY2018 revenue of $10.25-10.4 billion, versus the consensus of $10.23 billion.
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