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Veeva (VEEV) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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Veeva Systems (VEEV - Free Report) reported $650.35 million in revenue for the quarter ended April 2024, representing a year-over-year increase of 23.6%. EPS of $1.50 for the same period compares to $0.91 a year ago.
The reported revenue represents a surprise of +1.34% over the Zacks Consensus Estimate of $641.73 million. With the consensus EPS estimate being $1.43, the EPS surprise was +4.90%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Veeva performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Non-GAAP Gross Margin- Professional Services and other: 28.6% versus 26.3% estimated by seven analysts on average.
Non-GAAP Gross Margin- Subscription services: 85.9% versus 85.2% estimated by seven analysts on average.
Revenues- Subscription services: $533.96 million versus the 11-analyst average estimate of $528.26 million. The reported number represents a year-over-year change of +28.8%.
Revenues- Professional services and other: $116.39 million versus $113.08 million estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +4.1% change.
Revenues- Professional services and other- Veeva R&D Solutions: $67.62 million versus $68.33 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +1.1% change.
Revenues- Subscription services- Veeva R&D Solutions: $272.64 million versus $267.79 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +55.6% change.
Revenues- Subscription services- Veeva Commercial Solutions: $261.32 million versus $259.99 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +9.2% change.
Revenues- Professional services and other- Veeva Commercial Solutions: $48.77 million versus $45.32 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +8.7% change.
Shares of Veeva have returned +0.8% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Veeva (VEEV) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
Veeva Systems (VEEV - Free Report) reported $650.35 million in revenue for the quarter ended April 2024, representing a year-over-year increase of 23.6%. EPS of $1.50 for the same period compares to $0.91 a year ago.
The reported revenue represents a surprise of +1.34% over the Zacks Consensus Estimate of $641.73 million. With the consensus EPS estimate being $1.43, the EPS surprise was +4.90%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Veeva performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Non-GAAP Gross Margin- Professional Services and other: 28.6% versus 26.3% estimated by seven analysts on average.
- Non-GAAP Gross Margin- Subscription services: 85.9% versus 85.2% estimated by seven analysts on average.
- Revenues- Subscription services: $533.96 million versus the 11-analyst average estimate of $528.26 million. The reported number represents a year-over-year change of +28.8%.
- Revenues- Professional services and other: $116.39 million versus $113.08 million estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +4.1% change.
- Revenues- Professional services and other- Veeva R&D Solutions: $67.62 million versus $68.33 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +1.1% change.
- Revenues- Subscription services- Veeva R&D Solutions: $272.64 million versus $267.79 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +55.6% change.
- Revenues- Subscription services- Veeva Commercial Solutions: $261.32 million versus $259.99 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +9.2% change.
- Revenues- Professional services and other- Veeva Commercial Solutions: $48.77 million versus $45.32 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +8.7% change.
View all Key Company Metrics for Veeva here>>>Shares of Veeva have returned +0.8% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.