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Veeva Systems (VEEV) Q3 Earnings and Revenues Surpass Estimates
VEEVVeeva(VEEV) ZACKS·2024-12-05 23:26

Core Viewpoint - Veeva Systems reported quarterly earnings of 1.75pershare,exceedingtheZacksConsensusEstimateof1.75 per share, exceeding the Zacks Consensus Estimate of 1.58 per share, and showing an increase from 1.34pershareayearago[1][3]FinancialPerformance−Theearningssurpriseforthequarterwas10.761.34 per share a year ago [1][3] Financial Performance - The earnings surprise for the quarter was 10.76%, with the company previously expected to post earnings of 1.53 per share but actually reporting 1.62pershare,resultinginasurpriseof5.881.62 per share, resulting in a surprise of 5.88% [2] - Veeva's revenues for the quarter ended October 2024 were 699.21 million, surpassing the Zacks Consensus Estimate by 2.20%, compared to 616.51millioninthesamequarterlastyear[3]−Overthelastfourquarters,VeevahasconsistentlyexceededconsensusEPSandrevenueestimates[3]StockPerformance−Veevashareshaveincreasedapproximately23.5616.51 million in the same quarter last year [3] - Over the last four quarters, Veeva has consistently exceeded consensus EPS and revenue estimates [3] Stock Performance - Veeva shares have increased approximately 23.5% since the beginning of the year, while the S&P 500 has gained 27.6% [5] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future due to unfavorable estimate revisions [8] Future Outlook - The current consensus EPS estimate for the upcoming quarter is 1.53, with expected revenues of 697.66million,andforthecurrentfiscalyear,theEPSestimateis697.66 million, and for the current fiscal year, the EPS estimate is 6.23 on revenues of $2.71 billion [9] - The outlook for the industry, particularly the Internet - Software sector, is favorable, ranking in the top 16% of over 250 Zacks industries, which historically outperforms the bottom 50% by more than 2 to 1 [10]