Veeva Systems gains: VEEV shares rise 5% on strong Q4 beat

<p>Veeva Systems’ (NYSE: VEEV) revenues for the cloud data company’s fiscal fourth quarter of 2019 have VEEV inventories that will pick up after Tuesday. This is because the adjusted earnings per share (EPS) of 54 cents beat Wall Street‘s estimate of 52 cents. In addition, its revenue of $ 311.51 million also exceeds analysts’ estimates of $ 298.3 million.

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The following are some additional highlights from the latest earnings report from Veeva Systems.

Adjusted earnings per share increased by 20% from 45 cents during the same period the year before. Revenue for the quarter is 34.09% higher than $ 232.32 million in the fourth quarter of 2018. Operating profit of $ 60.39 million is a decrease of 4.14% compared to the same period last year from $ 63 million. Veeva System’s earnings report also includes net income of $ 66.18 million. This is a decrease of 6.99% compared to the company’s net profit of $ 71.15 million from the same time last year.

Peter Gassner, CEO of Veeva Systems, said this about VEEV’s share income report:

“The past year has been an exceptional year for Veeva. We focused on customer success and accelerated our pace of innovation in established and new markets. We have positioned ourselves well from a product, business model and team perspective to carry out the great opportunities in the future. ”

The earnings report for Veeva Systems also includes the outlook for the fiscal year 2020. This expects an adjusted earnings per share of approximately $ 2.50 on revenue from $ 1.4 billion to $ 1,405 billion. By comparison, Wall Street estimates adjusted earnings per share of $ 2.51 on sales of $ 1.38 billion by 2020.

The VEEV share increased by 4.93% after the markets closed on Tuesday.

At the time of writing, William White had no position in any of the above securities.

Article printed from Investor Place Media, https://investorplace.com/2020/03/veeva-systems-earnings-boost-veev-stock-up/.

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