06:51 AM EST, 12/06/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Veeva Systems ( VEEV ) shares were up more than 7% in premarket activity Friday after the company reported overnight an increase in fiscal Q3 earnings and sales while lifting its guidance for the full financial year.

The company reported fiscal Q3 non-GAAP earnings late Thursday of $1.75 per diluted share, up from $1.34 a year earlier.

Analysts polled by FactSet expected $1.58.

Revenue in the quarter ended Oct. 31 was $699.2 million, up from $616.5 million a year earlier.

Analysts surveyed by FactSet expected $684.4 million.

The company expects Q4 non-GAAP diluted EPS of $1.57 and revenue of between $696 million and $699 million. Analysts expect $1.53 on revenue of $697.5 million.

Veeva ( VEEV ) said it now expects fiscal 2025 non-GAAP diluted EPS of $6.44 on revenue between $2.72 billion and $2.73 billion. It previously projected $6.22 on revenue of $2.70 billion to $2.71 billion. Analysts are looking for EPS of $6.24 and revenue of $2.71 billion.

Price: 248.07, Change: +16.41, Percent Change: +7.08