Why MongoDB Stock Is Down After Its Beat-And-Raise Quarter

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Why MongoDB Stock Is Down After Its Beat-And-Raise Quarter

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Why MongoDB Stock Is Down After Its Beat-And-Raise Quarter

//stocks-investing.news-articles.net/content/202 .. ck-is-down-after-its-beat-and-raise-quarter.html

Published in Stocks and Investing on Tuesday, December 10th 2024 at 12:21 GMT by Kiplinger
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

MongoDB stock is spiraling Tuesday even after the tech company disclosed higher-than-expected Q3 earnings and raised its full-year outlook. Here's why.

2024-12-10 165 x 110 / 10331 Bytes

MongoDB (MDB) stock experienced a decline despite reporting a strong earnings quarter where it beat expectations and raised its guidance. The company reported a 31% year-over-year revenue increase to $450.6 million, surpassing the consensus estimate of $439 million. Additionally, MongoDB's adjusted earnings per share were 57 cents, significantly above the expected 46 cents. However, the stock fell due to concerns over the company's forward-looking statements, particularly the lower-than-expected revenue guidance for the next quarter, which was set at $484 million to $488 million, below the $491 million that analysts had forecasted. This cautious outlook, despite the positive earnings, led investors to sell off shares, reflecting broader market concerns about future growth and profitability in the tech sector amidst economic uncertainties.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/why-mongodb-mdb-stock-is-down-after-its-beat-and-raise-quarter ]