MongoDB (MDB) Stock Surges 17% Following Q3 'Beat and Raise'

MongoDB (NASDAQ: MDB) shares were trading more than 17% higher after-hours following the company’s reported Q3 results, with EPS coming in at ($0.11), better than the consensus estimate of ($0.37). Quarterly revenue grew 50% year-over-year to $226.9 million, beating the consensus estimate of $205.14 million. Subscription and services revenues came in at $217.9 million (up 51% year-over-year) and at $9.0 million (up 35% year-over-year), respectively.

According to Dev Ittycheria, President and CEO of MongoDB, the company delivered another fantastic quarter, with Atlas revenue growth of 84% and customer count increase to over 31,000.

The company provided its Q4 outlook, expecting EPS of ($0.24)-($0.21), compared to the consensus of ($0.34), and revenue of $239-242 million, compared to the consensus estimate of $227.7 million.

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