Veeva Shares Slip Despite Beating Q1 Estimates: Details

Benzinga04:39

Veeva Systems Inc. (NYSE:VEEV) posted its first-quarter results after Wednesday’s closing bell. Here's a look at the key figures in the report.

VEEV stock is moving. Watch the price action here.

Veeva Systems Q1 Details

Veeva reported quarterly earnings of $2.24 per share, which beat the Street estimate of $2.13, according to Benzinga Pro data.

Quarterly revenue clocked in at $882.95 million, which beat the analyst consensus estimate of $853.65 million.

Subscription revenues for the first quarter were $730.2 million, up from $634.8 million one year ago, an increase of 15% year-over-year.

“Our rapid progress with Veeva AI sets the foundation as we enter the next chapter of our industry cloud,” said CEO Peter Gassner.

“We are moving from an industry-specific application company to an industry-specific application and AI agent company,” Gassner added.

Read Also: Broadcom's AI Revenue Doubled — And It May Not Even Be Halfway Done

FY2027 Outlook

Veeva raised its fiscal 2027 adjusted EPS guidance to $9.05, versus the $8.82 analyst estimate, and raised its revenue outlook to between $3.64 billion and $3.65 billion, versus the $3.58 billion estimate.

VEEV Stock Price Activity: According to data from Benzinga Pro, Veeva Systems stock fell 6% to $168 in Wednesday's extended trading.

Photo: Shutterstock

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Watch the price action here.\n\nVeeva Systems Q1 Details       \nVeeva reported quarterly earnings of $2.24 per share, which beat the Street estimate of $2.13, according to Benzinga Pro data. \nQuarterly revenue clocked in at $882.95 million, which beat the analyst consensus estimate of $853.65 million. \nSubscription revenues for the first quarter were $730.2 million, up from $634.8 million one year ago, an increase of 15% year-over-year.\n“Our rapid progress with Veeva AI sets the foundation as we enter the next chapter of our industry cloud,” said CEO Peter Gassner. \n“We are moving from an industry-specific application company to an industry-specific application and AI agent company,” Gassner added.  \n\n\n\nRead Also:\n\nBroadcom's AI Revenue Doubled — And It May Not Even Be Halfway Done\n\n\n\nFY2027 Outlook\nVeeva raised its fiscal 2027 adjusted EPS guidance to $9.05, versus the $8.82 analyst estimate, and raised its revenue outlook to between $3.64 billion and $3.65 billion, versus the $3.58 billion estimate. \nVEEV Stock Price Activity: According to data from Benzinga Pro, Veeva Systems stock fell 6% to $168 in Wednesday's extended trading.  \nPhoto: Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"express","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2640418435","isCrawlerRequest":true}