IQVIA Holdings Inc. (NYSE:IQV) Q3 2019 Earnings Conference Call - Final Transcript
Oct 30, 2019 • 09:00 am ET
Ladies and gentlemen, thank you for standing by. Welcome to the IQVIA Third Quarter 2019 Earnings Conference Call. [Operator Instructions] As a reminder this conference is being recorded, Wednesday, October 30th, 2019.
I would now like to turn the conference over to Andrew Markwick, Senior Vice President, Investor Relations and Treasury. Please go ahead.
Thank you. Good morning everyone. Thank you for joining our third quarter 2019 earnings call. With me today are Ari Bousbib, Chairman and Chief Executive Officer; Michael McDonnell, Executive Vice President and Chief Financial Officer; Eric Sherbet, Executive Vice President and General Counsel; Nick Charles, Senior Vice President, Financial Planning and Analysis; and Jen Halchak, Senior Director, Investor Relations.
Today we will be referencing a presentation that will be visible during this call for those of you on our website. This presentation will also be available following this call on the Events and 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 which are discussed in the company's filings with the Securities 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 is included in the press release and conference call presentation.
I would now like to turn the call over to our Chairman and CEO Ari Bousbib.
Thank you Andrew and good morning everyone. Thanks for joining our first quarter 2019 earnings call. I'm pleased to report that the first quarter is a continuation of the solid momentum we've had since the beginning of the year. Once again revenue adjusted EBITDA and earnings all came in at the high end or above our guidance ranges even after the currency impact. Third quarter revenue of $2769000000 came in $14 million above the midpoint of our guidance range and $34 million above the midpoint of our guidance range when you adjust for the foreign currency impact. Revenue growth was 7.9% on a constant currency basis. Actually when you adjust for acquisitions and pass-throughs for the total company organic constant currency revenue growth is already in the 7% range. From a second segment perspective Technology Analytics Solutions revenue grew 10% at constant currency.
During the quarter we marked the anniversary of several tech businesses we had acquired in 2018 and therefore the contribution to growth from M&A was about 200 basis points which is half of what it was last quarters. The acceleration of the TAS organic constant currency revenue growth which came in at almost 8% this quarter was driven by the timing of our