Veeva Systems Inc (NYSE:VEEV) stock rose 9.23% (As on December 6, 11:06:40 AM UTC-4, Source: Google Finance) after the company reported third-quarter results that beat expectations and raised its full-year guidance. Subscription services revenues for the third quarter were $580.9 million, up from $494.9 million one year ago, an increase of 17% year over year. Non-GAAP operating income for the third quarter was $304.0 million, compared to $234.6 million one year ago, an increase of 30% year over year. Non-GAAP net income for the third quarter was $288.3 million, compared to $218.7 million one year ago, an increase of 32% year over year.

Meanwhile, Veeva announced three new AI innovations planned for availability in late 2025. Coming in Vault CRM is CRM Bot, a GenAI assistant, and Voice Control, a voice interface leveraging Apple Intelligence. The company also announced MLR Bot for Vault PromoMats, which uses a Veeva-hosted large language model to speed review and approval by checking quality and content of promotional materials. In addition, with the addition of more than 25 customers in the quarter, now more than 600 customers have selected at least one of the seven Vault Quality Suite applications available today. Furthermore, more than 30 customers are now live on Vault CRM and the seven migrations from Veeva CRM to Vault CRM are on track for completion by year end. In November, the fourth top 20 biopharma committed to Vault CRM as its commercial foundation. And as planned, this month the latest release of Vault CRM will include the full functionality of Veeva CRM and additional new capabilities, marking the availability of the next generation of CRM for the industry.

VEEV in the third quarter of FY 24 has reported the adjusted earnings per share of $1.75, beating the analysts’ estimates for the adjusted earnings per share of $1.58. The company had reported the adjusted revenue growth of 13 percent to $699.2 million in the third quarter of FY 24, beating the analysts’ estimates for revenue of $684.34 million.

Looking ahead, Veeva forecast fourth-quarter adjusted earnings of $1.57 per share on revenue tobe between $696 million and $699 million, both ahead of Wall Street projections. Q4 Non-GAAP operating income is expected to be of about $275 million.

For the full fiscal year 2025, the company now expects adjusted earnings of $6.44 per share on revenue of $2.722 billion to $2.725 billion, also topping analyst estimates. FY 25 Non-GAAP operating income is expected to be of about $1,120 million