Veeva Systems Q2 Profit Rises

(RTTNews) - Healthcare information provider Veeva Systems Inc. (VEEV) on Wednesday reported higher income in the second quarter, helped by higher subscription services revenues. The company also announced its fiscal 2021 outlook, which came in above analysts' expectations.

The company posted second quarter net income of $108.9 million or $0.67 per share, higher than $93.6 million or $0.58 per share in the same period last year.

Excluding items, income was $152.7 million or $0.94 per share, compared to $116.4 million or $0.72 per share in the prior-year quarter. On average, 20 analysts polled by Thomson Reuters expected the company to post earnings of $0.87 per share in the quarter.

Total revenues rose 29 percent to $455.6 million from $353.7 million a year ago, while analysts were looking for revenues of $451.9 million.

Looking ahead, in the third quarter, the company expects adjusted income between $0.87 and $0.88. Revenues are expected between $464 million and $466 million.

On average, 20 analysts were looking for earnings of $0.86 per share on revenues of $460.0 million in the third quarter.

For fiscal 2021, the company expects adjusted earnings per share of $3.57 and revenues between $1.83 billion and $1.84 billion.

On average, 22 analysts expect the company to post earnings per share of $3.47 on revenues of $1.82 billion for fiscal 2021.