MongoDB Beat Every Estimate and Raised Guidance, Then Lost 13.6% in a Single Session
MongoDB lifted full-year revenue and earnings targets after second-quarter results beat estimates, even as Atlas growth held at 29% for a third quarter.
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Watch CJ Desai Says MongoDB’s AI Momentum Is Real, But Guidance Remains Prudent
CJ Desai, CEO of MongoDB, says MongoDB feels very good about demand, noting Atlas delivered its fifth straight quarter of 29% growth and that total Atlas dollars continue to rise quarter over quarter. He speaks with Romaine Bostick & Sally Bakewell on "The Close."
MongoDB Beat Every Estimate and Raised Guidance, Then Lost 13.6% in a Single Session
MongoDB crushed estimates and lifted guidance, then watched investors punish the stock anyway. The reason comes down to a single line buried in the earnings report that separates what the company reported from what it actually earned.
Why is MongoDB stock falling 13% despite strong Q2 results
MongoDB stock MDB fell sharply on Wednesday after the database software company reported second-quarter results that beat expectations but failed to deliver the faster Atlas growth investors had anticipated. Shares were down 13% in trading at $375.72 after closing Tuesday down 4% ahead of the earnings release. The selloff came despite 30% year-over-year revenue growth, a higher full-year outlook and several Wall Street firms raising their price …
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