2023-03-08 16:39:00 ET
MongoDB ( NASDAQ: MDB ) shares slumped as much as 9% in after-hours trading as investors sold off the cloud-database provider's stock despite what appeared to be an upbeat fiscal fourth-quarter report.
After U.S. stock markets closed, MongoDB ( MDB ) said it earned 57 cents a share, excluding one-time items, on $361.3M in sales for the quarter ending January 31. Those results far surpassed the estimates of Wall Street analysts, who had forecast MongoDB ( MDB ) to earn 7 cents a share on revenue of $337.9M.
Revenue from subscriptions was easily the biggest source of MongoDB's ( MDB ) sales during the quarter, coming in at $348.2M, up by 35% from a year ago. Services made up the rest of MongoDB's ( MDB ) sales, with revenue of $13.1M.
During the year-ago period, MongoDB ( MDB ) earned 10 cents a share on $266.5M in revenue.
The company said it ended the quarter with almost 41,000 customers, compared to approximately 33,000 customers a year ago.
For its fiscal first quarter, MongoDB ( MDB ) estimates it will earn between 17 cents and 20 cents a share, on revenue in a range of $344M to $348M.
Wall Street analysts have a consensus buy rating on MongoDB's ( MDB ) stock, while Seeking Alpha authors give the stock a raring of hold. Seeking Alpha's Quant System, which historically outperforms the stock market, also in a little more cautious about MongoDB ( MDB ), and gives the company's shares a hold rating .
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MongoDB shares slump 9% despite upbeat outlook, strong earnings results