Veeva: Fiscal Q2 Earnings Snapshot

PLEASANTON, Calif. (AP) — PLEASANTON, Calif. (AP) — Veeva Systems Inc. (VEEV) on Wednesday reported fiscal second-quarter profit of $273.4 million.

On a per-share basis, the Pleasanton, California-based company said it had net income of $1.66. Earnings, adjusted for stock option expense and amortization costs, came to $2.35 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.22 per share.

The provider of cloud-based software services for the life sciences industry posted revenue of $928 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $904.1 million.

For the current quarter ending in October, Veeva expects its per-share earnings to range from $2.33 to $2.34.

The company said it expects revenue in the range of $932 million to $935 million for the fiscal third quarter.

Veeva expects full-year earnings to be $9.21 per share, with revenue ranging from $3.68 billion to $3.69 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