Veeva Systems (NYSE:VEEV) is up 2.2% postmarket after posting Q3 earnings where it beat on top and bottom lines and raised its profit guidance for the full year.
Revenues rose by 25%, with core subscription services sales up 27%.
Operating income rose similarly, by 32% (non-GAAP) to $111.6M.
And net income rose 35% to $95.4M.
“Our outperformance in both Veeva Commercial Cloud and Veeva Vault reflects the tremendous opportunity we have in life sciences,” says CFO Tim Cabral.
Revenue breakout: Subscription services, $226.8M (up 27%); Professional services and other, $54.2M (up 16.4%).
For Q4, it’s forecasting revenues of $296M-$299M (above consensus for $278.6M), operating income of $100M-$101M and EPS of $0.51-$0.52 (vs. consensus for $0.53).
For the full year, it now sees revenues of $1.088B-$1.091B (above consensus for $1.07B); operating income of $409M-$410M; and EPS of $2.16-$2.17 (above consensus for $2.12).
Conference call to come at 4:30 p.m. ET.
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