Veeva Systems Inc. (NYSE:VEEV) posted its first-quarter results after Wednesday’s closing bell. Here's a look at the key figures in the report.

Veeva Systems Q1 Details       

Veeva reported quarterly earnings of $2.24 per share, which beat the Street estimate of $2.13, according to Benzinga Pro data. 

Quarterly revenue clocked in at $882.95 million, which beat the analyst consensus estimate of $853.65 million.

Subscription revenues for the first quarter were $730.2 million, up from $634.8 million one year ago, an increase of 15% year-over-year.

“Our rapid progress with Veeva AI sets the foundation as we enter the next chapter of our industry cloud,” said CEO Peter Gassner.

“We are moving from an industry-specific application company to an industry-specific application and AI agent company,” Gassner added.

Read Also: Broadcom's AI Revenue Doubled — And It May Not Even Be Halfway Done

FY2027 Outlook

Veeva raised its fiscal 2027 adjusted EPS guidance to $9.05, versus the $8.82 analyst estimate, and raised its revenue outlook to between $3.64 billion and $3.65 billion, versus the $3.58 billion estimate.

VEEV Stock Price Activity: According to data from Benzinga Pro, Veeva Systems stock fell 6% to $168 in Wednesday's extended trading.  

Photo: Shutterstock