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MongoDB jumps 15% after company boosts guidance, cites confidence in cloud-based database service
CNBC· 2025-06-05 13:33
Core Insights - MongoDB's shares increased by 15% following the company's fiscal first-quarter earnings that exceeded expectations and an optimistic outlook for future growth [1] - The company reported revenues of $549 million, a 22% increase from over $450 million in the same period last year, surpassing the analyst estimate of $528 million [1] - Adjusted earnings per share reached $1.00, exceeding the projected 66 cents per share by analysts [1] Revenue Guidance - For the fiscal year 2026, MongoDB raised its revenue guidance to between $2.25 billion and $2.29 billion, up from the previous forecast of $2.24 billion to $2.28 billion [2] - The adjusted earnings per share guidance for the same period was also increased to a range of $2.94 to $3.12, compared to the earlier estimate of $2.44 to $2.62 per share [2] Management Commentary - CEO Dev Ittycheria expressed confidence in the company's ability to drive profitable growth, attributing this to the upcoming wave of application development [2]