Veeva: Fiscal Q1 Earnings Snapshot

Audio By Carbonatix

PLEASANTON, Calif. (AP) — PLEASANTON, Calif. (AP) — Veeva Systems Inc. (VEEV) on Thursday reported fiscal first-quarter profit of $161.7 million.

The Pleasanton, California-based company said it had net income of 98 cents per share. Earnings, adjusted for one-time gains and costs, were $1.50 per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.

The provider of cloud-based software services for the life sciences industry posted revenue of $650.3 million in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $641.7 million.

For the current quarter ending in July, Veeva expects its per-share earnings to range from $1.53 to $1.54.

The company said it expects revenue in the range of $666 million to $669 million for the fiscal second quarter.

Veeva expects full-year earnings to be $6.16 per share, with revenue ranging from $2.7 billion to $2.71 billion.

_____

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