ICON shares surge 9% on strong bookings and raised guidance

ICON plc's shares surged 9% in after-hours trading following strong third-quarter results that surpassed analyst expectations. The clinical research organization reported adjusted earnings per share of $2.66, beating the consensus estimate of $2.64, while revenue of $2.02 billion slightly exceeded the $2.01 billion estimate. The company's robust commercial performance, driven by net business wins of $3.15 billion and a book-to-bill ratio of 1.56x, contributed to the positive outlook.

In addition to the earnings beat, ICON raised its full-year guidance, now projecting revenue between $8.10 billion and $8.20 billion, with adjusted diluted earnings per share in the range of $10.35 to $10.65.

Brief written by urgent.news from Investing.com's own syndicated text. Machine-written — may contain errors; check the original before relying on it.