Sector: Healthcare|Industry: Diagnostics & Research|Market Cap: $34.66B|Employees: 87K
IQVIA is a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. They create intelligent connections across all aspects of healthcare, enabling customers to accelerate the development and commercialization of innovative medical treatments. With a presence in over 100 countries and a staff of approximately 87,000 employees, IQVIA holds a strong market position in the healthcare industry.
IQVIA reported revenue of $3.814B in Q2 2024, a 2.3% increase from $3.728B in Q2 2023. Similarly, revenue for the first six months of 2024 was $7.551B, a 2.3% increase from $7.380B in the same period in 2023, indicating consistent but not rapid growth.
Cost of revenues, exclusive of depreciation and amortization, was 65.2% of revenues in Q2 2024, compared to 65.5% in Q2 2023. This indicates slight pressure on profitability despite revenue growth.
Net income was $363 million in Q2 2024, up from $297 million in Q2 2023, indicating improved profitability despite slight gross margin pressure. This is driven by a combination of revenue growth, cost management, and other income.