• Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Dividend Stocks Report
No Result
View All Result
Home Stock News

MongoDB shares jump as revenue growth accelerates

by
December 6, 2021
in Stock News
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Related Posts

Carvana stock jumps 25% after outlook update

Seeking Alpha Reviews & Ratings

Fed’s Flow of Funds: Household Net Worth Increased $3.0 Trillion in Q1

The “Home ATM” was Closed in Q1; Mortgage Equity Withdrawal (MEW) turns negative in Q1 2023

Dev Ittycheria, CEO of MongoDB

Adam Jeffery | CNBC

Shares of database software maker MongoDB were up as much as 18% in extended trading on Monday after issuing fiscal third-quarter results.

Here’s how the company did:

Earnings: Loss of 11 cents per share, adjusted, vs. a loss of 38 cents per share as expected by analysts, according to Refinitiv.Revenue: $226.9 million, vs. $205.2 million as expected by analysts, according to Refinitiv.

Revenue grew 50% year over year in the quarter that ended Oct. 31, compared with 44% growth in the prior quarter, according to a statement. Revenue from the company’s Atlas cloud database service grew 84%, compared with 83% growth in the previous quarter.

But the company’s total net loss widened to $81.3 million from $72.7 million in the year-ago quarter, with sales and marketing expenses totaling more than half of quarterly revenue. Competitors include top cloud providers such as Amazon and Microsoft, as well as database incumbents such as IBM and Oracle.

MongoDB raised its guidance for the full 2022 fiscal year. It now expects an adjusted net loss per share of 74 cents to 71 cents on $846.3 million to $849.3 million in revenue, compared with a loss of $1.20 to $1.13 on $805.0 million to $811.0 million in revenue. Analysts had expected a loss of $1.13 per share and $813.0 million in revenue.

Travel and other business expenses came in lower than the company had predicted as the Covid pandemic continued during the quarter, Michael Gordon, MongoDB’s operating and finance chief, said on a conference call with analysts.

Coinbase is moving more workloads to the Atlas service, said MongoDB CEO Dev Ittycheria. The cryptocurrency exchange operator had “some pretty unique requirements when it comes to performance and scale,” he said.

This is breaking news. Please check back for updates.

WATCH: MongoDB CTO on software company benefits, remote and hybrid work solutions

Next Post

Credit Funds Signal More Pain as Record Cash Swamps Treasury ETF

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Stock News

Carvana stock jumps 25% after outlook update

by
June 8, 2023
0

Read more

Carvana stock jumps 25% after outlook update

Seeking Alpha Reviews & Ratings

Fed’s Flow of Funds: Household Net Worth Increased $3.0 Trillion in Q1

The “Home ATM” was Closed in Q1; Mortgage Equity Withdrawal (MEW) turns negative in Q1 2023

Debt Ceiling Deal Spurs the Market

Tesla Stock Rises Again. It’s About the Cybertruck This Time.

Load More

All rights reserved by www.dividendstocksreport.net

  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.