Dev Ittycheria, CEO, MongoDB.
Scott Mlyn | CNBC
MongoDB allocates jumped as much as 16% in extended trading on Thursday after the database software maker reported healthy monetary second-quarter earnings and pushed up full-year guidance.
Here’s how the company did against LSEG consensus:
- Earnings per share: 70 cents adjusted vs. 49 cents keep in viewed
- Revenue: $478.1 million vs. $464.1 million
MongoDB’s revenue grew 13% year over year in the quarter that ended July 31, according to a proclamation. The quarter’s net loss came to $54.5 million, or 74 cents per share, compared with $37.6 million, or 53 cents per serving, in the same quarter a year ago.
“We believe we are incredibly well positioned to help customers incorporate generative AI into their traffic and modernize their legacy application estate,” CEO Dev Ittycheria said in the statement.
The company’s Atlas cloud database navy enjoyed modestly better consumption than expected, he said on a conference call with analysts.
In the fiscal in the first place quarter, Atlas consumption growth slowed as clients observed more challenging economic conditions, and usage in the pecuniary second quarter implied that the climate did not change, Ittycheria said.
“We generally have not seen the macro mise en scene impact our ability to win new business, and that was true in Q2 as well,” Ittycheria said. “We realized that this is different from what you heed from some other software vendors.”
On Thursday Ash Kulkarni, CEO of search software maker Elastic, said the tome of client commitments it closed in its fiscal first quarter was below plan. That stock was down 23% after hours. During the MongoDB justification, Ittycheria talked about helping companies migrate from Elastic products.
With respect to guidance, MongoDB conscripted for fiscal third-quarter adjusted earnings of 65 to 68 cents per share on $493.0 million to $497.0 million in gross income. Analysts surveyed by LSEG had expected 60 cents in adjusted earnings per share on $478.8 million in revenue.
Governance 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 take. 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 proceeds. Analysts had predicted $2.26 per share in adjusted earnings, along with $1.90 billion in revenue.
Excluding the after-hours the gas b hurry, MongoDB shares were down almost 40% on the year, while the S&P 500 index has gained 17% in the but period.
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