MongoDB shares jump 11% after Q3 earnings beat estimates

Investing.com -- MongoDB (NASDAQ:MDB ) Inc on Monday reported a better-than-expected quarterly profit and revenue. Shares of the database software maker jumped 11% at $388 in the aftermarket trading.

Revenue for the third quarter ended Oct. 31 rose 22% to $529.4 million, topping analysts' expectations of $497.65 million, while non-GAAP earnings per share came in at $1.16, comfortably beating estimates of 67 cents.

“MongoDB's third quarter results were significantly ahead of expectations on the top and bottom line, driven by better-than-expected EA performance and 26% Atlas (NYSE:ATCO ) revenue growth," said Chief Executive Officer, Dev Ittycheria. 

"We continue to see success winning new business due to the superiority of MongoDB's developer data platform in addressing a wide variety of mission-critical use cases"

For fiscal 2025, MongoDB expects revenue between $1.973 billion and $1.977 billion, with non-GAAP earnings per share in the range of $3.01 to $3.03.

The company also announced that Chief Operating Officer and Chief Financial Officer Michael Gordon will step down at the end of January. Gordon will transition to an advisory role to ensure a smooth handover.

MongoDB has started the search for a new CFO and will consider both internal and external candidates. If a successor is not named by Feb. 1, Serge Tanjga, senior vice president of finance, will take over as interim CFO.

 

Source: Investing.com