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Veeva Systems Drops Despite Beating Q3 Estimates and Raising Guidance

MarketDash Editorial Team
17 days ago
Veeva Systems delivered better-than-expected Q3 results and raised its outlook, but investors weren't impressed. The stock fell over 5% in after-hours trading despite solid subscription revenue growth and bullish guidance.

Veeva Systems, Inc. (VEEV) delivered a solid earnings beat Thursday evening, but the market had other ideas. Despite topping estimates and raising guidance, shares tumbled in after-hours trading—a reminder that sometimes good news just isn't good enough.

The Numbers: Veeva reported quarterly earnings of $2.04 per share, comfortably ahead of the $1.95 analyst consensus. Revenue came in at $811.2 million, beating the Street's $792.82 million estimate. The real story was in subscription services, which climbed to $682.5 million from $580.9 million a year earlier—a healthy 17% year-over-year jump.

"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.

Looking Ahead: Veeva wasn't content to just beat the quarter—the company raised its Q4 and full fiscal year earnings and revenue guidance to ranges above what analysts were expecting.

Market Reaction: Despite the positive results and optimistic outlook, Veeva stock dropped 5.64% to $255.25 in Thursday's extended trading session. It's a classic case of "sell the news," or perhaps investors were hoping for an even bigger beat.

Back to News

Veeva Systems Drops Despite Beating Q3 Estimates and Raising Guidance

MarketDash Editorial Team
17 days ago
Veeva Systems delivered better-than-expected Q3 results and raised its outlook, but investors weren't impressed. The stock fell over 5% in after-hours trading despite solid subscription revenue growth and bullish guidance.

Veeva Systems, Inc. (VEEV) delivered a solid earnings beat Thursday evening, but the market had other ideas. Despite topping estimates and raising guidance, shares tumbled in after-hours trading—a reminder that sometimes good news just isn't good enough.

The Numbers: Veeva reported quarterly earnings of $2.04 per share, comfortably ahead of the $1.95 analyst consensus. Revenue came in at $811.2 million, beating the Street's $792.82 million estimate. The real story was in subscription services, which climbed to $682.5 million from $580.9 million a year earlier—a healthy 17% year-over-year jump.

"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.

Looking Ahead: Veeva wasn't content to just beat the quarter—the company raised its Q4 and full fiscal year earnings and revenue guidance to ranges above what analysts were expecting.

Market Reaction: Despite the positive results and optimistic outlook, Veeva stock dropped 5.64% to $255.25 in Thursday's extended trading session. It's a classic case of "sell the news," or perhaps investors were hoping for an even bigger beat.