Wed, May 31, 2023 1:31 PM
STATS Perform dba Automated Insights
PLEASANTON, Calif. (AP) — PLEASANTON, Calif. (AP) — Veeva Systems Inc. (VEEV) on Wednesday reported fiscal first-quarter earnings of $131.5 million.
On a per-share basis, the Pleasanton, California-based company said it had net income of 81 cents. Earnings, adjusted for one-time gains and costs, came to 91 cents per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The provider of cloud-based software services for the life sciences industry posted revenue of $526.3 million in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $515.5 million.
For the current quarter ending in July, Veeva expects its per-share earnings to range from $1.12 to $1.13.
The company said it expects revenue in the range of $580 million to $582 million for the fiscal second quarter.
Veeva expects full-year earnings to be $4.59 per share, with revenue ranging from $2.36 billion to $2.37 billion.