NEW YORK (TheStreet) -- Shares of Veeva Systems (VEEV - Get Report) are soaring, up 16.55% to $29.07 in midday trading after the company reported its fiscal second quarter results on Thursday of non-GAAP earnings of 9 cents per diluted share, higher than the 7 cents per share analysts expected.
Non-GAAP revenue for the quarter was up 69% to $12.4 million from $7.3 million in the same quarter of 2013.
Veeva reported revenue of $75.7 million for the second quarter, up 53% from one year ago, and beating analysts' estimate of $69.3 million.
Must Read: 50 Stocks Hedge Funds LoveSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. For its fiscal second quarter, Veeva focused more on its cloud-based online detailing platform and gained momentum in its content management program, Veeva Vault. The company raised its full year guidance on total revenue to a range of $300 million to $303 million, from its prior guidance of $277 million to $282 million. VEEV data by YCharts
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