RTTNews | Apr 22, 2021 02:23PM EDT

14:22 Thursday, April 22, 2021 (RTTNews.com) - Thursday, North Carolina-based technological solution provider to the life science industry, IQVIA Holdings Inc. (IQV) were up by 4.03% or $8.84 per share, at $227.84 per share after a positive result in the first quarter. The company managed to beat Street view and improved their guidance for the year.

The net income for the company improved to $212 million or $1.09 per share from $82 million or $0.42 per share last year. Excluding one time items, the company earned $425 million or $2.18 per share, up from $294 million or $1.50 per share last year. On average, 18 analysts polled by Thomson Reuters estimated the earnings to be $1.85 per share.

The net revenue for the company also increased 23.8% year-over-year to $3.4 billion from $2.7 billion. This was fueled by a 20.7% increase in Technology & Analytics Solutions (TAS) to $1,348 million. Research and Development also grew 29.6 percent helping the result. 19 analysts estimated the revenue to be $3.18 billion. Analyst estimates usually exclude special items.

"Our business momentum continues to accelerate, with TAS and R&DS reporting exceptional organic growth rates in the quarter. As a result of this outstanding performance, and the sustained strength of our new business wins, we are raising our 2021 financial guidance", said Ari Bousbib, chairman and CEO of the company.

The company also improved on their guidance for the financial year. The company sees a revenue in the range of $13.2 billion and $13.5 billion, improved from prior view of $12.5 billion to $12.9 billion. The expected earnings per share went up to $8.5 to $8.75 per share from $7.8 to $8.2 in the previous guidance. Analysts estimate earnings for the year to be $8.04 per share.

Iqvia opened at $225.95 after closing at $219 on the previous day. The price of the stock ranged from $126.01 per share to $235.51 on an average of 567.74 thousand outstanding shares for the 52-week period.

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