Veeva Systems Inc. (NYSE:VEEV) shares are trading higher in the premarket session on Thursday after the company beat earnings in the first quarter and raised the outlook.
In the after-market session on Wednesday, the company reported adjusted earnings per share of $1.97, beating the analyst consensus estimate of $1.77. Quarterly sales of $759 million (+17% year over year) outpaced the Street view of $731.91 million.
“We crossed our 2025 revenue run rate goal this quarter and are progressing well toward our 2030 goal to double that and the positive impact we can have for our customers and the industry,” said CFO Brian Van Wagener.
Subscription services revenues for the first quarter were $634.8 million, an increase of 19% year over year.
Quarterly adjusted operating income for the first quarter jumped 34% year over year to $349.9 million.
Outlook: For the fiscal second quarter ending July 31, Veeva expects total revenue between $766 million and $769 million (Street View: $765.34 million), non-GAAP operating income between $335 million and $337 million and adjusted diluted EPS between $1.89 and $1.90 (Street view: $1.88).
For the full fiscal year ending January 31, 2026, the company projects total revenue between $3.09 billion and $3.10 billion versus the Street view of $3.09 billion (prior view: $3.040 billion to $3.055 billion), non-GAAP operating income of approximately $1.36 billion, and adjusted diluted EPS of around $7.63 versus the Street view of $7.56 (Prior view: $7.32).
Price Action: VEEV shares are trading higher by 14.6% to $268.65 at last check Thursday.
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