Veeva: Fiscal 3Q Earnings Snapshot

PLEASANTON, Calif. (AP) _ Veeva Systems Inc. (VEEV) on Tuesday reported fiscal third-quarter profit of $97 million.

On a per-share basis, the Pleasanton, California-based company said it had profit of 60 cents. Earnings, adjusted for one-time gains and costs, were 78 cents per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

The provider of cloud-based software services for the life sciences industry posted revenue of $377.5 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $361.5 million.

For the current quarter ending in January, Veeva expects its per-share earnings to range from 67 cents to 68 cents.

The company said it expects revenue in the range of $378 million to $380 million for the fiscal fourth quarter.

Veeva expects full-year earnings in the range of $2.83 to $2.84 per share, with revenue expected to be $1.45 billion.

Veeva shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $284.13, a rise of 97% 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