Veeva: Fiscal 2Q Earnings Snapshot

August 27, 2019 GMT

PLEASANTON, Calif. (AP) _ Veeva Systems Inc. (VEEV) on Tuesday reported fiscal second-quarter earnings of $79.2 million.

The Pleasanton, California-based company said it had net income of 50 cents per share. Earnings, adjusted for one-time gains and costs, were 55 cents per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The provider of cloud-based software services for the life sciences industry posted revenue of $266.9 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $259.3 million.


For the current quarter ending in November, Veeva expects its per-share earnings to range from 54 cents to 55 cents.

The company said it expects revenue in the range of $274 million to $275 million for the fiscal third quarter.

Veeva expects full-year earnings in the range of $2.11 to $2.13 per share, with revenue ranging from $1.06 billion to $1.07 billion.

Veeva shares have increased 83% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $163.31, an increase of 60% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VEEV at https://www.zacks.com/ap/VEEV