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Exhibit 99.1
IQVIA Reports Third-Quarter 2018 Results and Updates Full-Year 2018 Guidance
DANBURY, Conn. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--October 22, 2018--IQVIA Holdings Inc. (“IQVIA”) (NYSE: IQV), a leading global provider of advanced analytics, technology solutions, and contract research services to the life sciences industry, today reported financial results for the quarter ended September 30, 2018. On January 1, 2018, IQVIA adopted ASC 606 “Revenue from Contracts with Customers” as required by the Financial Accounting Standards Board. Under this new standard, IQVIA recognizes revenue in the Research & Development Solutions segment on a percentage of completion basis. Additionally, ASC 606 requires that service revenue and reimbursed expense revenue be consistently presented as one line on the income statement. Unless stated otherwise, all financial information that follows has been provided under ASC 606.
Third-Quarter 2018 Operating Results
Revenue for the third quarter of $2,594 million increased 6.3 percent at constant currency and 5.2 percent reported, compared to the third quarter of 2017. Technology & Analytics Solutions (TAS) revenue of $1,014 million grew 15.0 percent at constant currency and 12.9 percent reported, including the benefit of acquisitions. Research & Development Solutions (R&DS) revenue of $1,382 million grew 3.5 percent at constant currency and 3.1 percent reported, with growth in R&DS substantially all organic. Contract Sales & Medical Solutions (CSMS) revenue of $198 million declined 11.9 percent at constant currency and 12.8 percent reported.
Third-quarter 2018 Adjusted EBITDA of $561 million increased 8.4 percent at constant currency and 9.4 percent reported. GAAP net income was $60 million and GAAP diluted earnings per share was $0.29. Adjusted Net Income of $294 million grew 13.1 percent, and Adjusted Diluted Earnings per Share of $1.42 grew 19.3 percent.
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Iqvia Holdings Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
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Iqvia Holdings Inc. provided additional information to their SEC Filing as exhibits
Ticker: IQV
CIK: 1478242
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-025117
Submitted to the SEC: Thu Oct 25 2018 4:11:35 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Commercial Physical And Biological Research