By Dean Seal
Shares of Veeva Systems jumped after the company raised its full-year guidance and said revenue in the prior quarter blasted past analyst projections.
The stock was up 15% at $270 in premarket trading. Shares were changing hands at $200.50 this time a year ago.
The cloud-based software company, which focuses on life-sciences customers, said late Wednesday it expects adjusted earnings of about $7.63 a share this fiscal year on $3.09 billion to $3.10 billion in revenue. That's up from previous guidance for about $7.32 a share in adjusted earnings on revenue of $3.04 billion to $3.05 billion.
For the current quarter that started May 1, revenue is expected to hit $766 million to $769 million, above current analyst estimates for $765 million, according to FactSet. Adjusted earnings are on track to hit $1.89 to $1.90 a share, ahead of targets for $1.88 a share.
For the fiscal first quarter ended April 30, Veeva posted a profit of $228.2 million, or $1.37 a share, compared with $161.7 million, or 98 cents a share, in the same quarter a year earlier.
Stripping out one-time items, adjusted earnings of $1.97 a share topped analyst projections by 23 cents, according to FactSet.
Revenue climbed 17% to $759 million, beating analyst forecasts for $728.4 million, according to FactSet.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 29, 2025 08:13 ET (12:13 GMT)
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