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Veeva: Fiscal 3Q Earnings Snapshot

PLEASANTON, Calif. (AP) _ Veeva Systems Inc. (VEEV) on Tuesday reported fiscal third-quarter net income of $82.2 million.

On a per-share basis, the Pleasanton, California-based company said it had net income of 52 cents. Earnings, adjusted for one-time gains and costs, were 60 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The provider of cloud-based software services for the life sciences industry posted revenue of $280.9 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $275.4 million.

For the current quarter ending in January, Veeva expects its per-share earnings to range from 51 cents to 52 cents.

The company said it expects revenue in the range of $296 million to $299 million for the fiscal fourth quarter.

Veeva expects full-year earnings in the range of $2.16 to $2.17 per share, with revenue expected to be $1.09 billion.

Veeva shares have risen 79% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $159.49, a rise of 74% 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