Shares of IQVIA Holdings Inc. (NYSE:IQV) edged 0.3% higher on Tuesday after the company reported stronger-than-expected third-quarter results, underpinned by broad-based growth across its business segments.
Revenue rose 5.2% year over year to $4.1 billion, topping analyst estimates, while adjusted earnings per share came in at $3.00, beating the consensus forecast of $2.97.
“IQVIA delivered a strong quarter with revenue and profit towards the high-end of our guide, and record free cash flow generation,” said Ari Bousbib, Chairman and CEO of IQVIA. “R&DS continued to perform well, with strong demand across all customer segments and improved client decision timelines leading to 13% growth in net bookings year-over-year.”
Technology & Analytics Solutions revenue increased 5.0% to $1.63 billion, while Research & Development Solutions revenue grew 4.5% to $2.26 billion compared with the prior year.
IQVIA posted GAAP net income of $331 million, or $1.93 per diluted share, for the quarter. Adjusted EBITDA rose 1.1% to $949 million, and free cash flow jumped 35% year over year to $772 million — equal to 150% of adjusted net income.
R&D Solutions bookings totaled $2.6 billion during the quarter, with a book-to-bill ratio of 1.15x. The company’s contracted backlog climbed 4.1% to $32.4 billion.
IQVIA reaffirmed its full-year 2025 guidance, tightening its revenue outlook to a range of $16.15 billion to $16.25 billion and adjusted EPS to $11.85–$11.95, aligning with analyst expectations of $11.87 per share.