Veeva Shares Fall After Outlook Fails To Impress

By Wallace Witkowski Markets MarketWatch Pulse

Shares of Veeva Inc. declined in the extended session Tuesday as the provider of cloud-based software to drugmakers issued an outlook that was fairly in-line with Wall Street estimates. Veeva shares declined 3.9% to $42 after hours. Veeva sees earnings of 18 cents a share on revenue of between $151 million to $152 million for the first fiscal quarter, and 78 cents to 80 cents a share on revenue of $655 million to $660 million for the year. Analysts surveyed by FactSet estimate 18 cents a share on revenue of $148.3 million for the first quarter, and 80 cents a share on revenue of $651.1 million for the year. The company reported adjusted fourth-quarter earnings of 22 cents a share on revenue of $150.2 million. Analysts expected 17 cents a share on revenue of $145.9 million.

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