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Earnings Results: MongoDB shares climb after results beat estimates

MongoDB Inc. said Thursday its first-quarter subscription revenue rose 40% and its overall revenue increased 39% for a strong start to its fiscal year.

MongoDB
MDB,
-5.72%

shares rose more than 4% after hours, after falling 5.7% in the regular session to close at $271.15. 

The New York-based database-software provider reported a net loss of $64 million, or $1.04 a share, compared with a loss of $54 million, or 94 cents a share, in the year-ago period. Adjusted for stock-based compensation and other costs, the company’s first-quarter loss was 25 cents a share. Revenue rose to $181.6 million from $130.3 million in the year-ago quarter.

Analysts surveyed by FactSet had forecast a loss of 36 cents a share on revenue of $169.8 million.

MongoDB expects a second-quarter adjusted net loss of 40 cents a share to 43 cents a share on revenue of $180 million to $183 million, while analysts had forecast a loss of 32 cents a share on revenue of $180.9 million.

MongoDB shares have fallen almost 25% year to date, and about 23% in the past three months, while the S&P 500 Index
SPX,
-0.36%

is up 12% so far this year, and nearly 9% higher in the past three months.

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