Equities
MongoDB's stock dips 9% post-hours on lower-than-expected revenue forecasts, despite a 27% revenue jump in the fiscal fourth quarter.
By Barry Stearns
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MongoDB Inc. experienced a 9% drop in its stock price during after-hours trading following the release of its quarterly results, which included weaker-than-expected revenue guidance. The company provided a first-quarter sales forecast of $436 million to $440 million, falling short of FactSet analysts' expectations of $452 million. For the fiscal year, MongoDB estimated revenue between $1.9 billion and $1.93 billion, while analysts were projecting $2.04 billion.
In the fiscal fourth quarter, MongoDB reported a net loss of $55.5 million, or 77 cents per share, an improvement from the net loss of $64.4 million, or 93 cents per share, in the same period the previous year. Adjusted earnings stood at 86 cents per share. Revenue saw a 27% increase to $458 million from $361.3 million in the year-ago quarter, surpassing analysts' average revenue estimate of $437 million.
Shares of MongoDB have surged by 97% over the past year, outperforming the broader S&P 500 index, which has increased by 32%. The market's response to the weaker revenue guidance in the latest quarterly results indicates investor concerns about MongoDB's growth trajectory and future performance.
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