MongoDB Inc. shares dropped in the extended session Wednesday after the database company’s revenue outlook overshadowed better-than-expected results. MongoDB...
MongoDB Inc. MDB shares dropped in the extended session Wednesday after the database company’s revenue outlook overshadowed better-than-expected results. MongoDB shares fell as much as 11% after hours, following a 2.3% rise in the regular session to close at $228.70. The company forecast adjusted earnings of 17 cents to 20 cents a share on revenue of $344 million to $348 million for the current, or first fiscal, quarter; and 96 cents to $1.10 a share on revenue of $1.48 billion to $1.
The company forecast adjusted earnings of 17 cents to 20 cents a share on revenue of $344 million to $348 million for the current, or first fiscal, quarter; and 96 cents to $1.10 a share on revenue of $1.48 billion to $1.51 billion for the year. While analysts surveyed by FactSet, on average, had estimated 14 cents a share and 64 cents a share in adjusted earnings for the quarter and the year, respectively, they also expected revenue of $354.7 million and $1.59 billion for the quarter and year.
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