Veeva Systems Inc. Shares Closed 5% Lower Despite Strong Q2 Beat
Veeva Systems Inc. (NYSE:VEEV) shares closed more than 5% lower today despite the company’s reported Q2 results, which were above the Street estimates. The company delivered quarterly $0.94 EPS, beating the consensus estimate of $0.87, and revenue of $455.6 million (up 29% year-over-year), versus the consensus estimate of $451.93 million.
The company projects Q3 revenue to range from $464 million to $466 million, which is better than the Street estimate of $456.94 million.
For the full 2022-year the management of the company expects an EPS of $3.57, better than the consensus estimate of $3.50, and revenue of $1.83 billion-$1.835 billion, compared to the consensus of $1.82 billion.
| Symbol | Price | %chg |
|---|---|---|
| 2413.T | 1696.5 | 1 |
| 4483.T | 2987.5 | -1.46 |
| 2175.T | 2080.5 | -1.01 |
| 4480.T | 3670 | -4.63 |
Veeva Systems Stock Surges 17% on Q1 Beat
Veeva Systems (NYSE:VEEV) shares jumped more than 17% intra-day today after the company reported its Q1 results, with EPS of $0.91 coming in better than the Street estimate of $0.79. Revenue was $526.3 million, beating the Street estimate of $515.86 million.
Management reiterated that demand, and underlying KPIs (pipeline, win-rates, collections) remain consistent despite macro uncertainties. Management expects early customers to be live on Vault CRM and the Compass suite by next year.
For Q2/24, the company expects EPS to be in the range of $1.12-$1.13, compared to the Street estimate of $1.07, and revenue in the range of $580-$582 million, compared to the Street estimate of $580.31 million.
For the full year, the company expects EPS of $4.59, compared to the Street’s $4.32, and revenue of $2.36-$2.37 billion, compared to the Street’s $2.36 billion.
