Veeva Systems (NYSE:VEEV) earnings for the cloud-computing company’s fiscal fourth quarter of 2019 have VEEV stock taking off after-hours Tuesday. This is due to its adjusted earnings per share (EPS) of 54 cents beating out Wall Street’s estimate of 52 cents. Additionally, its revenue of $311.51 million is also above analysts’ estimates of $298.3 million.
The following are some additional highlights from the most recent Veeva Systems earnings report.
- Adjusted per-share earnings are up 20% from 45 cents during the same period of the year prior.
- Revenue for the quarter is sitting 34.09% higher than the $232.32 million in the fiscal fourth quarter of 2018.
- Operating income of $60.39 million is a 4.14% drop year-over-year from $63 million.
- The Veeva Systems earnings report also contains a net income of $66.18 million.
- This is a 6.99% decrease compared to the company’s net income of $71.15 million from the same time last year.
Peter Gassner, Chief Executive Officer of Veeva Systems, said this about the VEEV stock earnings report:
“The past year was an exceptional one for Veeva. We focused on customer success and accelerated our pace of innovation in established and new markets. We have set ourselves up well from a product, operating model, and team perspective to execute on the major opportunities ahead.”
The Veeva Systems earnings report also includes its outlook for fiscal 2020. This has it expecting adjusted EPS of approximately $2.50 on revenue ranging from $1.4 billion to $1.405 billion. For comparison, Wall Street is estimating adjusted EPS of $2.51 on revenue of $1.38 billion in 2020.
VEEV stock was up 4.93% after markets closed Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.