Why Veeva Systems Tumbled on Thursday

On an up day for the stock market in general, Veeva Systems (NYSE: VEEV) was a downer on Thursday. The company's shares closed 3.6% lower, on the back of quarterly results that somehow disappointed investors.

Veeva's Q3 of its fiscal 2022 figures, released after market hours Wednesday, reveal that the company earned just over $476 million during the quarter. That was 26% higher year over year, matching the rise of non-GAAP (adjusted) net profit, which landed at slightly more than $158 million ($0.97 per share).

Image source: Getty Images.

Source Fool.com