Nov 1 (Reuters) - IQVIA Holdings (IQV.N) cut its full-year profit forecast on Wednesday, citing weakness in demand for its analytics and medical technology solutions along with the impact of a stronger U.S. dollar.
Thermo Fisher signaled that the demand slump from biotech clients for its contract research services could extend into the next year due to rising interest rates and a persistent funding crunch.
On an adjusted basis, IQVIA reported a profit of $2.49 per share for the third quarter, topping estimates of $2.44 per share.
The company now expects full-year adjusted profit to be between $10.16 and $10.23 per share, compared with its prior per-share forecast of $10.26 to $10.56.
IQVIA now expects 2023 revenue between $14.89 billion and $14.92 billion, compared with its previous forecast of $15.05 billion to $15.18 billion.
Persons:
IQVIA, Fisher, Christy Santhosh, Shweta Agarwal
Organizations:
IQVIA Holdings, Danaher Corp, Thomson
Locations:
Durham , North Carolina, Bengaluru