Why Veeva Systems Stock Is Soaring Today
Shares of Veeva Systems (NYSE: VEEV) are making big gains in Thursday's daily trading session following better-than-expected earnings results. The healthcare software company's share price was up roughly 15% as of 10:30 a.m. ET, according to data from S&P Global Market Intelligence.
Veeva published results for the first quarter of its 2024 fiscal year, which ended April 30, after the market closed yesterday. The company recorded a profit of $0.91 per share on revenue of $526.3 million and beat the average analyst estimate's call for per-share earnings of $0.79 on sales of $515.86 million.
Veeva's revenue came in roughly 4% higher year over year in the first quarter. Subscription services revenue rose 3% compared to the prior-year period to hit $414.5 million, and sales for its professional-services-and-other segment climbed roughly 9% to hit $111.9 million.
Source Fool.com
