What happened Shares of Veeva Systems (NYSE: VEEV) tanked by as much as 10% this morning after the company reported fiscal third-quarter earnings. The results beat expectations and guidance was strong, which may be why the stock has recovered. As of 12:15 p.m. EST, Veeva shares were down just 3%. So what Revenue in the fiscal third quarter came in at $377.5 million, topping the consensus estimate of $361.9 million in sales. That translated into adjusted net income of $125.6 million, or $0.78 per share, while Wall Street analysts were modeling for just $0.63 per share in adjusted profits. Image source: Getty Images. "Our customers are delivering innovations that will have positive, lasting impacts on human health," CEO Peter Gassner said in a statement. "We are proud to work with these amazing companies, providing solutions that streamline drug development and enable them to support healthcare providers on the front lines." Now what The healthcare software-as-a-service (SaaS) company also offered a rosy outlook for the fiscal fourth quarter. Revenue is forecast to be between $378 million and $380 million, comfortably above the analyst expectation of $367.8 million. That should bring fiscal 2021 revenue to approximately $145 billion. Fiscal 2022 revenue is expected to be in the range of $1.7 billion to $1.72 billion, which is in line with current expectations of $1.7 billion for next fiscal year. Within total sales, subscription services revenue is expected to be $1.39 billion to $1.4 billion. Adjusted operating margin in fiscal 2022 should be approximately 37%. 10 stocks we like better than Veeva SystemsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Veeva Systems wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Veeva Systems. The Motley Fool has a disclosure policy.Source