Veeva Systems reports Q3 EPS beat & in line revenues, provides outlook

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Veeva Systems reports Q3 EPS beat & in line revenues, provides outlook
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Veeva Systems (NYSE: VEEV ) reported its Q3 results, with EPS of $1.34 coming in better than the consensus estimate of $1.29.

Revenue grew 12% year-over-year to $616.5 million, roughly in line with the consensus estimate of $615.83M. Subscription services revenues for Q3 were $494.9M, up 12% year-over-year.

Shares are currently down more than 2% after-hours.

"It was another strong quarter as we advance the industry toward more efficient and effective ways of working, from drug development through commercialization. We announced a number of new innovations, expanded in existing markets, and continued progress in newer areas like Vault CRM, positioning us well for durable, profitable growth for years to come,” said CEO Peter Gassner.

For Q4/24, the company expects total revenues in the range of $620-$622M, compared to the consensus estimate of $623.18M, and EPS of approximately $1.30, compared to the consensus of $1.28.

For the full year, total revenues are seen at $2.353-$2.355 billion, compared to the consensus estimate of $2.36B, and EPS at approximately $4.76, compared to the consensus estimate of $4.7.

The company reiterated guidance for fiscal 2025, expecting total revenues of at least $2.75B, compared to the consensus estimate of $2.74B.

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