BUZZ-ICON slumps as audit probe finds signs of overstated revenue

Reuters

02/12

** Shares of contract research firm ICON ICLR.O fall 28% to $94.98 premarket

** ICON says it is investigating accounting issues related to how it recorded revenue from 2023 to 2025

** Early findings show revenue for 2023 and 2024 may have been overstated by under 2% each year

** Co is delaying its 4Q and 2025 earnings release until April 30

** Co has withdrawn its 2025 financial forecast because the review is still ongoing

** ICON expects to report weaknesses in its internal financial controls

** ICON fell 14% in 2025

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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