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Veeva: Fiscal 2Q Earnings Snapshot

August 23, 2018

PLEASANTON, Calif. (AP) _ Veeva Systems Inc. (VEEV) on Thursday reported fiscal second-quarter net income of $50.3 million.

On a per-share basis, the Pleasanton, California-based company said it had profit of 32 cents. Earnings, adjusted for one-time gains and costs, came to 39 cents per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

The provider of cloud-based software services for the life sciences industry posted revenue of $209.6 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $203.7 million.

For the current quarter ending in November, Veeva expects its per-share earnings to be 38 cents.

The company said it expects revenue in the range of $215 million to $216 million for the fiscal third quarter.

Veeva expects full-year earnings in the range of $1.47 to $1.48 per share, with revenue ranging from $840 million to $843 million.

Veeva shares have increased 61 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $89.18, a climb of 39 percent in the last 12 months.

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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

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