Yahoo Finance MongoDB Q4 results beat offset by soft revenue guidance; Shares slump
By Yasin Ebrahim
Investing.com -- MongoDB reported Wednesday softer than expected revenue guidance that offset fourth-quarter results that beat on both the top and bottom lines.
MongoDB (NASDAQ:MDB) fell more than 8% following the report.
MongoDB reported adjusted EPS of $0.57 on revenue of $361.3 million, topping estimates of $0.07 and $339.3M, respectively.
The company attributed the earnings beat to strong revenue growth, driven by new enterprise customer wins.
"Our continued new business momentum is driven in part by an increasing number of enterprise customers looking to standardize on MongoDB's developer data platform to accelerate innovation while driving greater operational efficiency in their business," the company said.
Looking ahead to fiscal Q1, the company forecasts adjusted EPS of $0.17 to $0.20 on revenue of $344M to $348M. That compared with Wall Street estimates for EPS of $0.13 on revenue of $352.6M.
For fiscal 2024, adjusted EPS was guided in a range of $0.96 to $1.10, topping estimates of $0.64. While revenue is expected between $1.48 billion and $1.51B, missing estimates of $1.58B.
Related Articles
MongoDB Q4 results beat offset by soft revenue guidance; Shares slump
US House gets update on nation's $31 trillion debt ahead of Biden budget proposal
Brazil tax reform seen boosting long-term economic growth, official says
