Veeva Systems Rallies On Better-than-expected Earnings

Shares of Veeva Systems Inc. gained in Thursday's extended session after the cloud-based software company geared to the life sciences industry posted quarterly earnings and revenue ahead of estimates. Veeva Systems reported its first-quarter earnings fell to $12.5 million from $13 million a year earlier. On per-share basis, earnings were flat at 9 cents a share. Adjusted earnings came in at 15 cents a share. Revenue grew 33% to $119.8 million. Analysts surveyed by FactSet had forecast the company to earn 11 cents a share on revenue of $115 million. For the current quarter, Veeva projected adjusted EPS of 13 cents and revenue of $125.5 million to $127 million. Shares rallied 9.9% after hours.