05:18 PM EDT, 05/30/2024 (MT Newswires) -- Veeva Systems ( VEEV ) reported fiscal Q1 non-GAAP net income Thursday of $1.50 per diluted share, up from $0.91 a year earlier.

Analysts polled by Capital IQ expected $1.42.

Revenue in the quarter ended April 30 rose to $650.3 million from $526.3 million a year earlier.

Analysts surveyed by Capital IQ expected $642 million.

The company expects fiscal Q2 non-GAAP EPS of $1.53 to $1.54 on revenue of $666 million to $669 million. Analysts polled by Capital IQ expect EPS of $1.52 on revenue of $675.3 million

For fiscal 2025, the company reiterated non-GAAP EPS guidance of $6.16 and lowered the revenue outlook to $2.7 billion to $2.71 billion from $2.73 billion to $2.74 billion. Analysts expect EPS of $6.15 on revenue of $2.73 billion.

Shares of the company fell 12% in recent after-hours activity.

Price: 171.02, Change: -23.17, Percent Change: -11.93