MongoDB Jumps After Sharp Increase In Quarterly Revenue, Outlook

Shares of general purpose database platform provider MongoDB, Inc. (MDB) are rising more than 20% in pre-market on Tuesday after reporting nearly 50% revenue growth in the third quarter. The company also provided fourth-quarter outlook, better than analysts' view.

Revenue for the quarter increased 50% year-over-year to s $226.89 million, helped by growth in subscription as well as service revenue.

Net loss was $81.3 million, or $1.22 per share in the quarter compared with net loss of $72.7 million, or $1.22 per share in the year-ago period.

Excluding one-time items, loss was $7.2 million or $0.11 per share. This compares with the average estimate of analysts polled by Thomson Reuters at $0.38 loss per share.

Looking forward to the fourth quarter, revenue is expected between $239 million and $242 million. Adjusted loss per share is expected in the range of $0.24- $0.21. Analysts expect the company to report loss of $0.34 per share on revenue of $227.74 million.

For the full-year, the company sees revenue in the range of $846.3 million to $849.3 million and adjusted loss per share to be in the range of $0.74 to $0.71. The consensus estimate for loss is at $1.13 per share and or revenue is at $813.02 million.

MongoDB stock closed Monday's regular trade at $429.34, down $20.82 or 4.63%. It is currently at $519.

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