Filing Flows › IQVIA Holdings (IQV) › Q2 2025
IQVIA Holdings (IQV) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 22, 2025
IQVIA Holdings (IQV) reported revenue of $4.0B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +5% from the quarter before. Operating margin was 12.6%, net earnings $266M (6.6% of revenue).
IQVIA Holdings, Q2 2025: revenue $4.0B (+5% year over year), operating margin 12.6%, net earnings $266M, operating cash flow $443M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.0B | +5% | +5% |
| Operating profit | $506M | +2% | -3% |
| Net earnings | $266M | +7% | -27% |
| Operating cash flow | $443M | -22% | -25% |
| Free cash flow | $292M | — | -34% |
What changed
Revenue was $4.0B in Q2 2025, up 5% year over year and up 5% from the previous quarter. Research & Development Solutions was the largest line at 55% of revenue. Technology & Analytics Solutions added $0.13B year over year (up 9%), 66% of the total change.
Operating profit was $0.51B, a 12.6% margin (down 1.0 points year over year). Operating profit fell $0.01B even though revenue rose $0.20B versus a year earlier, so costs grew faster than sales. Net earnings were $0.27B, down 27% year over year. The effective tax rate was 17.4%.
Operating cash flow was $0.44B (down 25% year over year), 167% of net earnings. Non-cash charges added back $0.28B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.16B. After acquisition of property, equipment and software ($0.15B), free cash flow as the company reports it was $0.29B.
Questions
What was IQVIA Holdings' revenue in the second quarter 2025?
IQVIA Holdings (IQV) reported revenue of $4.0B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +5% from the quarter before.
Was IQVIA Holdings profitable in the second quarter 2025?
Operating profit was $506M (12.6% of revenue) and net earnings $266M.
Source: IQVIA Holdings 10-Q on SEC EDGAR.