Veeva Systems Inc (NYSE:VEEV) stock rose 7.89% (As on August 29, 11:25:50 AM UTC-4, Source: Google Finance) after the company reported better-than-expected second quarter results and issued upbeat guidance. Subscription services revenues for the second quarter were $561.3 million, up from $470.6 million one year ago, an increase of 19% year over year. Non-GAAP operating income for the second quarter was $279.8 million, compared to $211.9 million one year ago, an increase of 32% year over year. Non-GAAP net income for the second quarter was $267.3 million, compared to $198.0 million one year ago, an increase of 35% year over year.

Moreover, Veeva reached a significant milestone on its path to connect sales, marketing, medical, and service to enable true customer centricity with the release of Vault CRM Service Center this month. Veeva also added 14 new Vault CRM customers in the quarter. The new release of Veeva Site Connect added significant capabilities to streamline and simplify the clinical trial process for sites and biopharma sponsors. Site Connect is gaining momentum including a win with its seventh top 20 biopharma. Also in clinical, Veeva Clinical Database (CDB), a major innovation in clinical data, has been selected by seven top 20 biopharmas to reduce manual query work and increase speed and efficiency in trials. In addition, in Q2 a top 20 biopharma, with only one prior Veeva Development Cloud product, standardized on the full Vault RIM Suite for regulatory and Vault CTMS for clinical. Veeva also made major progress with emerging biotechs and added 12 Vault Basics customers in the quarter following its April release.

VEEV in the second quarter of FY 25 has reported the adjusted earnings per share of $1.62, beating the analysts’ estimates for the adjusted earnings per share of $1.53. The company had reported the adjusted revenue growth of 15 percent to $676.2 million in the second quarter of FY 25, beating the analysts’ estimates for revenue of $667.84 million.

Looking ahead, Veeva forecast third quarter adjusted EPS of $1.57-$1.58, above the $1.55 consensus. The company expects Q3 revenue of $682-685 million, largely in line with estimates of $685.9 million and Non-GAAP operating income to be between $273 and $275 million

For the full fiscal year 2025, Veeva raised its outlook, now projecting revenue to be in the  range of $2.704-$2.710 billion, Non-GAAP operating income of about $1,080 million and adjusted EPS to be of approximately $6.22.