IQVIA Holdings Inc. (NYSE:IQV) Q2 2018 Earnings Conference Call - Final Transcript

Jul 24, 2018 • 09:00 am ET

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IQVIA Holdings Inc. (NYSE:IQV) Q2 2018 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by, and welcome to the IQVIA Second Quarter 2018 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Andrew Markwick, Vice President, Investor Relations. Please go ahead, sir.

Executive
Andrew Markwick

Thank you, Aladdin. Good morning, everyone. Thank you for joining our Second Quarter 2018 Earnings Call. With me today are Ari Bousbib, Chairman and Chief Executive Officer; Michael McDonnell, Executive Vice President and Chief Financial Officer; Nick Childs, Senior Vice President, Financial Planning and Analysis; and we're also joined by our General Counsel, Eric Sherbet.

Today, we will be referencing a presentation that will be visible during this call for those of you on our webcast. This presentation will also be available following this call on the Events & Presentations section of our IQVIA Investor Relations website at ir.iqvia.com.

Before we begin, I would like to caution listeners that certain information discussed by management during this conference call will include forward-looking statements. Actual results could differ materially from those stated or implied by forward-looking statements due to risks and uncertainties associated with the company's business, including the impact of the changes to the revenue recognition accounting standards, which are discussed in the company's filings with the Security and Exchange Commission, including our Annual Report on Form 10-K and subsequent SEC filings.

In addition, we will discuss certain non-GAAP financial measures on this call, which should be considered a supplement to, and not a substitute for, financial measures prepared in accordance with GAAP. A reconciliation of these non-GAAP measures to the comparable GAAP measures are included in the press release and conference call presentation.

Now you will have seen in our press release that we renamed two of our reporting segments. These changes were made to provide more clarity and better describe the offerings within these segments. Commercial Solutions has been changed to Technology & Analytics Solutions, and Integrated Engagement Services has been changed to Contract Sales & Medical Solutions. These are name changes only. Nothing has changed with respect to the composition of any of our segments.

I would now turn the call over to our Chairman and CEO, Ari Bousbib.

Executive
Ari Bousbib

Okay. Well, thank you, Andrew, and good morning, everyone. Thank you for joining our second quarter 2018 earnings call. I'm pleased to report that Q2 was another quarter of strong operational and financial performance. We saw our business momentum accelerate, especially across our R&D, technology and R&D -- and real-world businesses. This was driven by the strategic investments that we've been talking about over the past 18 months, Investments in the build out of our technology suite, investments in our next generation of clinical development offering and investments in the expansion of our real-world platform and capabilities.

Okay, let's review the results. Second quarter revenue was $2,567 million. Growth came in above the high end of our expectations at 9%. This beat of $47 million was driven by three roughly equal components. First, organic operational upside in both our