IQVIA Holdings, Inc. (NYSE:IQV) came out with its second quarter earnings results on Wednesday 22nd July 2020 before market open.
The leading global provider of advanced analytics, technology solutions, and contract research services to the life sciences industry, reported $ 0.12 loss per share for the second quarter.
On adjusted basis, IQVIA Holdings, Inc. reported income for the quarter of $ 1.18 per share, beat the consensus estimate of $ 1.06 income per share by $ 0.12 or 11.32 percent.
The firm had revenue of $ 2,521.00 million for the quarter, compared to the consensus estimate of $ 2405.22 million. The revenues outshined analysts estimates by $ 115.78 million or 4.81 percent.
Earlier, for the second quarter the company expected revenue in the range between $ 2,365.00 million ~ $ 2,440.00 million.
The financial report showed revenues declined 7.99 percent versus second quarter of last year.
Looking ahead, Based on the better than expected performance in the second quarter, the company ability to execute in this environment, incremental COVID-19 trial work, an evaluation of current business conditions and outlook for the balance of the year, the company is now forecasting better performance in its TAS segment and better execution against its R&DS backlog than previously anticipated.
IQVIA Holdings, Inc. raised revenue for 2020 from previous estimates range of $ 10600.00 million ~ $ 10925.00 million to a new range $ 11000.00 million ~ $ 11100.00 million
At the same time, the company lifted 2020 earnings estimate from the previous range of $ 5.75 ~ $ 6.10 per share to a new range $ 6.10 ~ $ 6.30 per share.
Wall street analysts expected 2020 income of $ 5.87 per share on revenue of $ 10739.00 million.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
