MongoDB beats earnings expectations, shares surge 16% in after-hours trading.

From CNBC: 2024-08-29 18:03:40

MongoDB shares surged 16% in after-hours trading as company beat earnings expectations. Revenue grew 13% year over year to $478.1 million. Net loss for quarter was $54.5 million. CEO Dev Ittycheria highlighted company’s position in AI and success of Atlas database service. Elastic CEO discussed below-plan commitments, leading to 23% stock drop.
MongoDB forecasts fiscal third-quarter earnings of 65 to 68 cents and revenue of $493.0 million to $497.0 million. Full-year guidance increased to $2.33 to $2.47 per share in earnings and $1.92 billion to $1.93 billion in revenue. Company’s stock down nearly 40% year-to-date. S&P 500 gained 17% in same period.



Read more at CNBC:: MongoDB (MDB) Q2 earnings report 2025