MongoDB shares sink after company issues weak guidance
Summary
MongoDB shares sank 16% in extended trading on Wednesday after the database software maker issued disappointing guidance. Heres how the company did in comparison with LSEG consensus: Revenue increased about 20% from a year ago in the quarter that ended on Jan. 31, according to a statement. The company generated $15.8 million in net income, or 19 cents per share, which factors in stock-based compensation. In the same quarter a year ago, MongoDB had registered a net loss of $55.5 million, or 77 cents per share. Meanwhile, MongoDB is hiring rapidly to pursue more deals with large companies, while pulling back on mid-sized businesses, Tanjga said.
Classifications
industries
Fintech & Banking
applications
Web and Content Management
AskAI Classifications
Labels
Database Software
Cloud Infrastructure Software
Developer Tools
Linked Companies
MongoDB, Inc.
$1M to $5M