Veeva Systems Sees Q4 Revenue $621M-$623M Vs $636.04M Est.; Subscription Revenue $517M; Service Revenue $104M-$106M; Non-GAAP Operating Income Of $226M
Portfolio Pulse from Benzinga Newsdesk
Veeva Systems has provided its Q4 guidance for the fiscal year ending January 31, 2024. The company expects total revenue between $621M and $623M, subscription revenue of about $517M, services revenue between $104M and $106M, and non-GAAP operating income of about $226M. However, this is lower than the estimated revenue of $636.04M.
November 09, 2023 | 3:21 pm
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NEGATIVE IMPACT
Veeva Systems' Q4 revenue guidance is lower than the estimated $636.04M, which could negatively impact the company's stock in the short term.
Veeva Systems' lower than expected Q4 revenue guidance could lead to a negative sentiment among investors, potentially causing a short-term decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100