Veeva Systems stock jumps 4% on strong Q2 results, earnings guidance

NEW YORK - Veeva Systems Inc. (NYSE:VEEV ) saw its shares jump 4% in after-hours trading on Wednesday after the cloud software provider for the life sciences industry reported better-than-expected second quarter results and issued upbeat guidance.

For the quarter ended July 31, Veeva posted adjusted earnings of $1.62 per share, surpassing the analyst consensus of $1.53. Revenue rose 15% YoY to $676.2 million, topping estimates of $667.84 million.

Subscription services revenue, which makes up the bulk of Veeva's top line, grew 19% YoY to $561.3 million. Professional services revenue declined slightly to $114.9 million.

"It was another quarter of great execution, with major product advances in clinical and CRM that position us well for the industry cloud opportunity we see ahead," said CEO Peter Gassner.

Looking ahead, Veeva forecast third quarter adjusted EPS of $1.57-$1.58, above the $1.55 consensus. The company expects Q3 revenue of $682-685 million, largely in line with estimates of $685.9 million.

For the full fiscal year 2025, Veeva raised its outlook, now projecting revenue of $2.704-$2.710 billion and adjusted EPS of approximately $6.22.

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Source: Investing.com