IQVIA Holdings, Inc. (NYSE:IQV) unveiled its third quarter earnings results on Tuesday 20th October 2020 before market open.
The company reported $ 0.52 income per share for the third quarter. On adjusted basis, IQVIA Holdings, Inc. reported income for the quarter of $ 1.63 per share, beat the consensus estimate of $ 1.52 income per share by $ 0.11 or 7.24 percent.
The firm expected third quarter earnings in a range from $ 1.47 ~ $ 1.55 per share.
The quarterly earnings surged 79.31 percent compared with the same quarter last year.
IQVIA Holdings, Inc. had revenue of $ 2,786.00 million for the quarter, compared to the consensus estimate of $ 2754.54 million. The revenues outshined analysts estimates by $ 31.46 million or 1.14 percent.
Earlier, for the third quarter the company expected revenue in the range between $ 2,725.00 million ~ $ 2,775.00 million.
The financial report showed revenues elevated 0.61 percent versus third quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Ari Bousbib, chairman and CEO of IQVIA, commented, The IQVIA team continues to execute well in the current environment, once again delivering results above our financial targets, with revenue and profit metrics turning positive in the third quarter. TAS has already returned to pre-COVID growth rates and R&DS is expected to reach double-digit growth in the fourth quarter. Demand remains robust, as evidenced by another record quarter of bookings in R&DS, setting the stage for an excellent 2021.
Earnings Outlook
Moving forward, IQV announced revenue outlook for 4Q20 to a range of $ 3040.00 million ~ $ 3190.00 million, At the same time, earnings estimate in a range of $ 1.93 ~ $ 2.03 per share.The consensus estimates for the 4Q20 are income of $ 1.97 per share from $ 3019.82 million in revenue.
IQV revised revenue for 2020 from previous estimates range of $ 11000.00 million ~ $ 11100.00 million to a new range $ 11100.00 million ~ $ 11250.00 million
At the same time, the company updates 2020 earnings estimate from the previous range of $ 6.10 ~ $ 6.30 per share to a new range $ 6.25 ~ $ 6.35 per share.Wall street analysts expected 2020 income of $ 6.18 per share on revenue of $ 11050.10 million.
The company announced revenue outlook for 2021 to a range of $ 12300.00 million ~ $ 12600.00 million, At the same time, earnings estimate in a range of $ 7.65 ~ $ 7.95 per share.The consensus estimates for 2021 are income of $ 7.57 per share from $ 12243.90 million in revenue.
