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March 3, 2020, 4:43 p.m. EST

Veeva Systems stock rallies as earnings, outlook beats Street

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By Wallace Witkowski

VEEV

Veeva Systems Inc. /zigman2/quotes/202850210/composite VEEV +2.03% shares rallied in the extended session Tuesday after the cloud-based software company's results and outlook topped Wall Street estimates. Veeva shares rose 8.1% after hours, following a 1.8% decline in the regular session to close at $141.50. The company reported fourth-quarter net income of $66.2 million, or 42 cents a share, compared with $71.2 million, or 45 cents a share, in the year-ago period. Adjusted earnings were 54 cents a share. Revenue rose to $311.5 million from $232.3 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 52 cents a share on revenue of $298.4 million. Veeva expects adjusted earnings of 59 cents to 60 cents a share on revenue of $327 million to $328 million for the first quarter, and about $2.50 a share on revenue of $1.4 billion to $1.41 billion for the year. Analysts had forecast earnings of 56 cents a share on revenue of $314.4 million for the first quarter, and $2.51 a share on revenue of $1.39 billion for the year.

/zigman2/quotes/202850210/composite
US : U.S.: NYSE
$ 262.31
+5.21 +2.03%
Volume: 635,042
Aug. 13, 2020 4:00p
P/E Ratio
132.67
Dividend Yield
N/A
Market Cap
$38.60 billion
Rev. per Employee
$397,149
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