Yahoo Finance Veeva Systems Third Quarter 2023 Earnings: Revenues Beat Expectations, EPS In Line
Veeva Systems (NYSE:VEEV) Third Quarter 2023 Results
Key Financial Results
Revenue: US$552.4m (up 16% from 3Q 2022).
Net income: US$108.5m (up 2.4% from 3Q 2022).
Profit margin: 20% (down from 22% in 3Q 2022). The decrease in margin was driven by higher expenses.
EPS: US$0.70 (up from US$0.69 in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Veeva Systems Revenues Beat Expectations
Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) was mostly in line with analyst estimates.
Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Healthcare Services industry in the US.
Performance of the American Healthcare Services industry.
The company's shares are down 5.8% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Veeva Systems' balance sheet health.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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