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Earnings Results: MongoDB stock rises following earnings beat

MongoDB Inc. shares rose in the extended session Wednesday after the database company’s quarterly results topped Wall Street estimates.

MongoDB
MDB,
+1.97%

shares rose 5% after hours, following a 2% gain in the regular session to close at $241.81.

The company reported a first-quarter loss of $77.3 million, or $1.14 a share, compared with a loss of $64 million, or $1.04 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 20 cents a share, versus a loss of 6 cents a share in the year-ago period.

Revenue rose to $285.4 million from $181.6 million in the year-ago quarter.

Analysts surveyed by FactSet had forecast a loss of 8 cents a share on revenue of $268.6 million.

MongoDB forecast a loss of 31 cents to 28 cents a share on revenue of $279 million to $282 million for the second quarter, and a loss of 31 cents to 16 cents a share on revenue of $1.17 billion to $1.19 billion for the year.

Analysts had estimated a loss of 12 cents a share on revenue of $280.9 million for the second quarter, and a loss of 28 cents a share on revenue of $1.19 billion for the year.

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