Veeva: Fiscal 4Q Earnings Snapshot
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03/03/2020 | 09:30pm GMT
PLEASANTON, Calif. (AP) _ Veeva Systems Inc. (VEEV) on Tuesday reported fiscal fourth-quarter net income of $66.2 million.
The Pleasanton, California-based company said it had net income of 42 cents per share. Earnings, adjusted for one-time gains and costs, came to 54 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The provider of cloud-based software services for the life sciences industry posted revenue of $311.5 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $298.1 million.
For the year, the company reported profit of $301.1 million, or $1.90 per share. Revenue was reported as $1.1 billion.
For the current quarter ending in May, Veeva expects its per-share earnings to range from 59 cents to 60 cents.
The company said it expects revenue in the range of $327 million to $328 million for the fiscal first quarter.
Veeva expects full-year earnings to be $2.50 per share, with revenue ranging from $1.4 billion to $1.41 billion.
Veeva shares have climbed slightly since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $141.25, a rise of 23% in the last 12 months.
This story was generated by Automated Insights (automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VEEV at www.zacks.com/ap/VEEV