MongoDB's stock is falling after weak revenue guidance
By Jon Swartz
MongoDB Inc.'s stock dropped 9% in after-hours trading Thursday following the company's quarterly results, which included weak revenue guidance.
MongoDB (MDB) provided first-quarter sales guidance of $436 million to $440 million, while FactSet analysts are forecasting $452 million. For the fiscal year, the company is estimating revenue of between $1.9 billion and $1.93 billion; FactSet analysts are modeling for $2.04 billion.
The maker of a document-oriented database program reported a fiscal fourth-quarter net loss of $55.5 million, or 77 cents a share, compared with a net loss of $64.4 million, or 93 cents a share, in the same quarter a year ago. Adjusted earnings were 86 cents a share.
Revenue jumped 27% to $458 million from $361.3 million in the year-ago quarter.
Analysts surveyed by FactSet had expected on average net income of 46 cents a share on revenue of $437 million.
Shares of MongoDB have rocketed 97% over the past year, while the broader S&P 500 index SPX has increased 32%.
-Jon Swartz
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03-07-24 2017ET
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