MongoDB Shares Up 5% as Revenues Grow 57% to Beat the Street
2022.06.02 00:56
MongoDB (MDB) Shares Up 5% as Revenues Grow 57% to Beat the Street
By Davit Kirakosyan
MongoDB (NASDAQ:MDB) shares were trading more than 5% higher after-hours following the company’s reported Q1 results, with revenue growing 57% year-over-year to $285.4 million, beating the consensus estimate of $266.45 million, driven primarily by 82% Atlas growth.
Q1 EPS came in at ($0.20), worse than the consensus estimate of ($0.09).
Subscription revenue grew 57% year-over-year to $274.6 million, and services revenue grew 54% year-over-year to $10.9 million.
The company expects Q2/23 EPS in the range of ($0.31)-($0.28), compared to the consensus of ($0.14), and revenue in the range of $279-282 million, compared to the consensus of $277.85 million.
For the full 2023-year, the company expects EPS in the range of ($0.31)-($0.16), compared to the consensus of ($0.37), and revenue in the range of $1.172-1.192 billion, compared to the consensus of $1.18 billion.
