Veeva Systems (VEEV) Q1 Earnings and Revenues Beat Estimates

Core Viewpoint - Veeva Systems reported strong quarterly earnings, exceeding expectations and showing significant year-over-year growth in both earnings and revenues [1][3]. Financial Performance - Quarterly earnings were $1.97 per share, surpassing the Zacks Consensus Estimate of $1.74 per share, and up from $1.50 per share a year ago, representing a 31.33% increase [1][2]. - The company achieved revenues of $759.04 million for the quarter, exceeding the Zacks Consensus Estimate by 4.27% and up from $650.34 million in the same quarter last year, indicating a year-over-year growth of 16.73% [3]. Earnings Surprises - The earnings surprise for the recent quarter was 13.22%, following a previous surprise of 10.13% in the prior quarter [2]. Market Performance - Veeva shares have increased approximately 13.2% since the beginning of the year, significantly outperforming the S&P 500, which gained only 0.7% [4]. Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.79, with expected revenues of $754.53 million, and for the current fiscal year, the EPS estimate is $7.30 on revenues of $3.05 billion [8]. - The Zacks Rank for Veeva is currently 3 (Hold), indicating expected performance in line with the market in the near future [7]. Industry Context - Veeva operates within the Medical Info Systems industry, which is currently ranked in the top 34% of over 250 Zacks industries, suggesting a favorable industry outlook [9].