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Veeva Systems, Inc. (NYSE:ESTC) shares dropped after the company released its third-quarter earnings report after Thursday's closing bell. Here's a look at the details in the report.
The Details: Veeva reported quarterly earnings of $2.04 per share, which beat the analyst estimate of $1.95.
Quarterly revenue of $811.2 million beat the Street estimate of $792.82 million. Subscription services revenues were $682.5 million, up from $580.9 million one year ago, an increase of 17% year-over-year.
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“Continuing to lead through innovation, Veeva AI delivers on our vision for industry-specific AI that will help the life sciences industry reach new levels of productivity and customer centricity,” said CEO Peter Gassner.
Outlook: Veeva raised its Q4 and fiscal year earnings and revenue estimates to ranges above the analyst estimates.
VEEV Stock Price: According to data from Benzinga Pro, Veeva stock was down 5.64% at $255.25 in Thursday's extended trading.
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