Veeva: Fiscal Q3 Earnings Snapshot

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PLEASANTON, Calif. (AP) — PLEASANTON, Calif. (AP) — Veeva Systems Inc. (VEEV) on Thursday reported fiscal third-quarter profit of $185.8 million.

On a per-share basis, the Pleasanton, California-based company said it had net income of $1.13. Earnings, adjusted for one-time gains and costs, were $1.75 per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.

The provider of cloud-based software services for the life sciences industry posted revenue of $699.2 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $684.2 million.

For the current quarter ending in January, Veeva expects its per-share earnings to be $1.57.

The company said it expects revenue in the range of $696 million to $699 million for the fiscal fourth quarter.

Veeva expects full-year earnings to be $6.44 per share, with revenue ranging from $2.72 billion to $2.73 billion.

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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