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Veeva Systems gains after raising full-year outlook

August 27, 2020

Veeva Systems (NYSE:VEEV) shares are up 4% after hours following Q2 beats that included 33% Y/Y revenue growth. Subscription services sales totaled $283.5M (consensus: $276.8M). Professional services sales were $70.2M, above the $63.3M estimate.

Operating income was $144.4M, up 39%.

For Q3, Veeva forecasts $360-362M in revenue (consensus: $347.4M) and $0.66-0.68 EPS (consensus: $0.64) with operating income of $138-140M.

Veeva raises its full-year outlook to $1.415-1.42B in revenue (consensus: $1.39B; was: $1.38-1.395B), $2.642.67 EPS (consensus: $2.56; was: $2.50-2.55), and $540-545M in operating income.

Press release.

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