Veeva Systems (VEEV) Q1 Earnings and Revenues Top Estimates

Core Insights - Veeva Systems reported quarterly earnings of $1.50 per share, exceeding the Zacks Consensus Estimate of $1.43 per share, and showing significant growth from $0.91 per share a year ago [1] - The company achieved revenues of $650.35 million for the quarter, surpassing the Zacks Consensus Estimate by 1.34% and increasing from $526.33 million year-over-year [3] Earnings Performance - The earnings surprise for the quarter was 4.90%, following a previous surprise of 6.15% when earnings were $1.38 per share against an expectation of $1.30 [2] - Veeva has consistently surpassed consensus EPS estimates over the last four quarters [2] Revenue Insights - The company has also exceeded consensus revenue estimates in each of the last four quarters [3] - Current consensus EPS estimate for the upcoming quarter is $1.51, with expected revenues of $673.73 million, and for the current fiscal year, the estimate is $6.14 on $2.73 billion in revenues [7] Market Performance - Veeva shares have increased by approximately 4.1% since the beginning of the year, while the S&P 500 has gained 10.4% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Internet - Software industry, to which Veeva belongs, is currently ranked in the top 25% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]