VEEVA SYSTEMS INC Q1 Profit Decreases, but beats estimates

VEEVA SYSTEMS INC (VEEV) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $100.1 million, or $0.62 per share. This compares with $115.6 million, or $0.71 per share, in last year's first quarter.

Excluding items, VEEVA SYSTEMS INC reported adjusted earnings of $159.8 million or $0.99 per share for the period.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.5% to $505.1 million from $433.6 million last year.

VEEVA SYSTEMS INC earnings at a glance (GAAP) :

-Earnings (Q1): $100.1 Mln. vs. $115.6 Mln. last year.
-EPS (Q1): $0.62 vs. $0.71 last year.
-Analyst Estimates: $0.92
-Revenue (Q1): $505.1 Mln vs. $433.6 Mln last year.

Next quarter EPS guidance: $1.00-$1.01
Next quarter revenue guidance: $529-$531 mln
Full year EPS guidance: About $4.16
Full year revenue guidance: $2.165-2.175 bln

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