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Jul 31, 2022
Veeva Q2 2023 Earnings Report
Veeva reported solid revenue growth and strong profitability in Q2 2023.
Key Takeaways
Veeva Systems Inc. announced its fiscal 2023 second-quarter results, with total revenues of $534.2 million, up 17% year over year, and subscription services revenues of $428.6 million, also up 17% year over year. The company's innovation engine is delivering more value to customers, and Veeva is expanding its position as a strategic technology partner to the life sciences industry.
Total revenues for the second quarter were $534.2 million, up 17% year over year.
Subscription services revenues for the second quarter were $428.6 million, up 17% year over year.
Second quarter net income was $90.6 million, a decrease of 17% year over year.
Non-GAAP net income per share was $1.03, compared to $0.94 one year ago.
Forward Guidance
Veeva provided guidance for its fiscal third quarter ending October 31, 2022, with total revenues between $545 and $547 million and non-GAAP fully diluted net income per share between $1.07 and $1.08. Veeva updated guidance for its fiscal year ending January 31, 2023, with total revenues between $2,140 and $2,145 million and non-GAAP fully diluted net income per share of approximately $4.17.
Positive Outlook
- Total revenues between $545 and $547 million for Q3 2023.
- Non-GAAP operating income between $209 and $211 million for Q3 2023.
- Non-GAAP fully diluted net income per share between $1.07 and $1.08 for Q3 2023.
- Total revenues between $2,140 and $2,145 million for fiscal year 2023.
- Non-GAAP fully diluted net income per share of approximately $4.17 for fiscal year 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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