MongoDB (NASDAQ:MDB) shares jumped Friday after the database software maker reported healthy fiscal second-quarter earnings and pushed up full-year guidance.
Earnings per share came in at 70 cents adjusted vs. 49 cents expected, on revenue of $478.1 million vs. $464.1 million
MongoDB’s revenue grew 13% year over year in the quarter that ended July 31. The quarter’s net loss came to $54.5 million, or 74 cents per share, compared with $37.6 million, or 53 cents per share, in the same quarter a year ago.
The company’s Atlas cloud database service enjoyed modestly better consumption than expected, he said on a conference call with analysts.
In the fiscal first quarter, Atlas consumption growth slowed as clients observed more challenging economic conditions, and usage in the fiscal second quarter implied that the climate did not change
With respect to guidance, MongoDB called for fiscal third-quarter adjusted earnings of 65 to 68 cents per share on $493.0 million to $497.0 million in revenue. Analysts surveyed by LSEG had expected 60 cents in adjusted earnings per share on $478.8 million in revenue.
Management nudged up their fiscal 2025 forecast. MongoDB now sees $2.33 to $2.47 per share in adjusted earnings, with $1.92 billion to $1.93 billion in revenue. That’s up from the May guidance of $2.15 to $2.30 in adjusted earnings per share and $1.88 billion to $1.90 billion in revenue. Analysts had predicted $2.26 per share in adjusted earnings, along with $1.90 billion in revenue.
MDB shares opened Friday up $40.98, or 16.7%, to $286.70.
