PLEASANTON, Calif. (AP) — PLEASANTON, Calif. (AP) — Veeva Systems Inc. (VEEV) on Wednesday reported fiscal first-quarter profit of $260.9 million.
On a per-share basis, the Pleasanton, California-based company said it had net income of $1.57. Earnings, adjusted for one-time gains and costs, were $2.24 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.13 per share.
The provider of cloud-based software services for the life sciences industry posted revenue of $882.9 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $857.3 million.
For the current quarter ending in July, Veeva expects its per-share earnings to range from $2.21 to $2.22.
The company said it expects revenue in the range of $902 million to $905 million for the fiscal second quarter.
Veeva expects full-year earnings to be $9.05 per share, with revenue ranging from $3.64 billion to $3.65 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VEEV at https://www.zacks.com/ap/VEEV