BUZZ-ICON slumps as audit probe finds signs of overstated revenue
Reuters
Yesterday
BUZZ-ICON slumps as audit probe finds signs of overstated revenue
** 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** Co has withdrawn its 2025 financial forecast because the review is still ongoing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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