Veeva Stock Rises After Hours On Q2 Earnings Beat

Veeva Systems Inc. VEEV shares are trading higher in the after-hours session Wednesday after the company reported second-quarter earnings and issued guidance.

What To Know: Veeva reported quarterly earnings of $1.21 per share which beat the analyst consensus estimate of $1.13, a 17.48% increase over earnings of $1.03 per share from the same period last year. The company reported quarterly sales of $590.20 million which beat the analyst consensus estimate of $587.11 million, a 10.48% increase over sales of $534.22 million the same period last year.

The company issued third-quarter earnings per share guidance between $1.26 and $1.27, versus the $1.25 estimate. Revenue is estimated to be between $614 million and $616 million, versus the $621.75 million estimate.

Full-year 2024 earnings per share is anticipated to be approximately $4.68, versus the $4.53 estimate. Revenue is estimated to be between $2.365 billion and $2.370 billion, versus the $2.37 billion estimate.

"We had a great quarter with progress across the board that was particularly significant in CRM and clinical," said CEO Peter Gassner. "Thanks to our customers for your partnership and to the Veeva team for your continued focus on customer success and product excellence."

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VEEV Price Action: Shares of VEEV were up 2.40% at $197.20 in the after-hours session at the time of publication, according to Benzinga Pro.

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