Veeva Systems earnings for its fiscal first quarter of 2020 has its stock rising on Thursday.
Veeva Systems (NYSE:VEEV) reported earnings per share of 50 cents for its fiscal first quarter of the year. This is is up from the company’s earnings per share of 33 cents from the same period of the year prior. It was also a boon to VEEV stock by beating analysts’ earnings per share estimate of 44 cents for the quarter.
The Veeva Systems earnings report for its fiscal first quarter of 2020 has net income coming in at $73.45 million. This is a major increase over the company’s net income of $44.31 million reported in its fiscal first quarter of 2019.
Veeva Systems earnings for its fiscal first quarter of 2020 has it bringing in operating income of $71.17 million. This is better than the company’s operating income of $43.96 million reported during the same time last year.
The most recent Veeva Systems earnings report also has the coming announcing revenue of $244.75 million. That’s an improvement over the company’s revenue of $195.55 million reported in its fiscal first quarter of the previous year. It was also a blessing to VEEV stock by coming in above Wall Street’s revenue estimate of $238.68 million for the period.
Veeva Systems also includes its outlook for fiscal 2020 in its fiscal earnings report for Q1 2020. The company is expecting earnings per share between $2.01 and $2.03 on revenue ranging from $1.045 billion to $1.050 billion. Wall Street is looking for earnings per share and revenue of $1.91 and $1.04 billion for the fiscal year.
VEEV stock was up 14% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.