Veeva Systems (VEEV - Free Report) reported $526.33 million in revenue for the quarter ended April 2023, representing a year-over-year increase of 4.2%. EPS of $0.91 for the same period compares to $0.99 a year ago.
The reported revenue represents a surprise of +2.11% over the Zacks Consensus Estimate of $515.47 million. With the consensus EPS estimate being $0.79, the EPS surprise was +15.19%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Veeva performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Non-GAAP Gross Margin- Professional Services and other: 23% compared to the 26.29% average estimate based on eight analysts.
- Non-GAAP Gross Margin- Subscription services: 84.3% compared to the 85.3% average estimate based on eight analysts.
- Revenues- Subscription services: $414.55 million versus the 11-analyst average estimate of $404.98 million. The reported number represents a year-over-year change of +3%.
- Revenues- Professional services and other: $111.78 million versus $109.54 million estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +9.1% change.
- Revenues- Subscription services- Veeva R&D Solutions: $175.22 million versus the six-analyst average estimate of $173.45 million.
- Revenues- Subscription services- Veeva Commercial Solutions: $239.32 million versus the six-analyst average estimate of $231.41 million.
- Revenues- Professional services and other- Veeva R&D Solutions: $66.92 million versus the five-analyst average estimate of $63.55 million.
- Revenues- Professional services and other- Veeva Commercial Solutions: $44.86 million versus $45.30 million estimated by five analysts on average.
View all Key Company Metrics for Veeva here>>>Shares of Veeva have returned -7.6% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
Veeva Systems (VEEV - Free Report) reported $526.33 million in revenue for the quarter ended April 2023, representing a year-over-year increase of 4.2%. EPS of $0.91 for the same period compares to $0.99 a year ago.
The reported revenue represents a surprise of +2.11% over the Zacks Consensus Estimate of $515.47 million. With the consensus EPS estimate being $0.79, the EPS surprise was +15.19%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Veeva performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Non-GAAP Gross Margin- Professional Services and other: 23% compared to the 26.29% average estimate based on eight analysts.
- Non-GAAP Gross Margin- Subscription services: 84.3% compared to the 85.3% average estimate based on eight analysts.
- Revenues- Subscription services: $414.55 million versus the 11-analyst average estimate of $404.98 million. The reported number represents a year-over-year change of +3%.
- Revenues- Professional services and other: $111.78 million versus $109.54 million estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +9.1% change.
- Revenues- Subscription services- Veeva R&D Solutions: $175.22 million versus the six-analyst average estimate of $173.45 million.
- Revenues- Subscription services- Veeva Commercial Solutions: $239.32 million versus the six-analyst average estimate of $231.41 million.
- Revenues- Professional services and other- Veeva R&D Solutions: $66.92 million versus the five-analyst average estimate of $63.55 million.
- Revenues- Professional services and other- Veeva Commercial Solutions: $44.86 million versus $45.30 million estimated by five analysts on average.
View all Key Company Metrics for Veeva here>>>Shares of Veeva have returned -7.6% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
Get the latest research report on VEEV - FREE