Veeva Systems Inc.(NYSE:VEEV) posted its first-quarter results after Wednesday’s closing bell. Here’s a look at the key figures in the report.
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Veeva Systems Q1 Details
Veeva reported quarterly earnings of $2.24 per share, which beat the Street estimate of $2.13, according to Benzinga Pro data.
Quarterly revenue clocked in at $882.95 million, which beat the analyst consensus estimate of $853.65 million.
Subscription revenues for the first quarter were $730.2 million, up from $634.8 million one year ago, an increase of 15% year-over-year.
“Our rapid progress with Veeva AI sets the foundation as we enter the next chapter of our industry cloud,” said CEO Peter Gassner.
“We are moving from an industry-specific application company to an industry-specific application and AI agent company,” Gassner added.
FY2027 Outlook
Veeva raised its fiscal 2027 adjusted EPS guidance to $9.05, versus the $8.82 analyst estimate, and raised its revenue outlook to between $3.64 billion and $3.65 billion, versus the $3.58 billion estimate.
VEEV Stock Price Activity: According to data from Benzinga Pro, Veeva Systems stock fell 6% to $168 in Wednesday’s extended trading.