MongoDB Shares Soar Over 30% After Q2 Beat And Upbeat Guidance

MongoDB Inc. (NASDAQ:MDB) shares surged more than 31% in Wednesday’s session after the database software company delivered stronger-than-expected fiscal second-quarter results and raised its outlook for both the third quarter and full year.

“MongoDB delivered strong second-quarter results across the board, highlighted by Atlas revenue growth accelerating to 29%,” said CEO Dev Ittycheria. “We also delivered meaningful margin outperformance as we executed on our plan to drive profitable growth. Reflecting this strength, we are raising our guidance on the top and bottom line for the rest of the year.”

The company reported earnings of $1.00 per share, topping consensus estimates of $0.67. Revenue reached $591.4 million, beating forecasts of $553.9 million.

For the fiscal third quarter, MongoDB guided EPS between $0.76 and $0.79 on revenue of $587 million to $592 million, both ahead of analyst estimates of $0.73 and $583.7 million. For the full year, earnings are now expected in a range of $3.64 to $3.73 per share.