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Shares of cloud-based software company Veeva Systems Inc (NYSE:VEEV) are rocketing higher on Wednesday after reporting fourth-quarter financial results and providing guidance.
• Veeva Systems shares are climbing with conviction. Why are VEEV shares rallying?
Here are the key highlights.
Veeva Systems Q4 Results
Veeva Systems reported fourth-quarter revenue of $836 million, up 16% year-over-year. The revenue total beat a Street consensus estimate of $810.6 million, according to data from Benzinga Pro.
The company reported fourth-quarter earnings per share of $2.06, beating a Street consensus estimate of $1.93.
Subscription revenue was $707.7 million in the quarter, up 16% year-over-year.
Full fiscal year revenue was $3.20 billion for Veeva, up …
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