Veeva Systems (VEEV Quick QuoteVEEV - Free Report) reported $676.18 million in revenue for the quarter ended July 2024, representing a year-over-year increase of 14.6%. EPS of $1.62 for the same period compares to $1.21 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $667.21 million, representing a surprise of +1.34%. The company delivered an EPS surprise of +5.88%, with the consensus EPS estimate being $1.53.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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

  : 31.9% versus 27.6% estimated by nine analysts on average.

• Non-GAAP Gross Margin- Subscription services

  : 86.5% versus 85.4% estimated by nine analysts on average.

• Revenues- Subscription services

  : $561.28 million compared to the $553.66 million average estimate based on 10 analysts. The reported number represents a change of +19.3% year over year.

• Revenues- Professional services and other

  : $114.90 million compared to the $113.56 million average estimate based on 10 analysts. The reported number represents a change of -3.9% year over year.

• Revenues- Professional services and other- Veeva R&D Solutions

  : $69.84 million versus $68.72 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -3.4% change.

• Revenues- Subscription services- Veeva R&D Solutions

  : $289.47 million versus $289.87 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +27.4% change.

• Revenues- Subscription services- Veeva Commercial Solutions

  : $271.81 million versus $264.15 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +11.7% change.

• Revenues- Professional services and other- Veeva Commercial Solutions

  : $45.07 million versus $44.78 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -4.8% change.

View all Key Company Metrics for Veeva here>>>

Shares of Veeva have returned +3.4% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.