AP NEWS

Veeva: Fiscal 3Q Earnings Snapshot

November 28, 2018

PLEASANTON, Calif. (AP) _ Veeva Systems Inc. (VEEV) on Wednesday reported fiscal third-quarter earnings of $64.1 million.

On a per-share basis, the Pleasanton, California-based company said it had profit of 41 cents. Earnings, adjusted for one-time gains and costs, were 45 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.

The provider of cloud-based software services for the life sciences industry posted revenue of $224.7 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $216.2 million.

For the current quarter ending in January, Veeva expects its per-share earnings to be 40 cents.

The company said it expects revenue in the range of $226 million to $227 million for the fiscal fourth quarter.

Veeva expects full-year earnings to be $1.58 per share, with revenue ranging from $855.8 million to $856.8 million.

Veeva shares have increased 77 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $97.85, a climb of 58 percent 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

AP RADIO
Update hourly