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MongoDB Surpasses Q2 Earnings Expectations with $478.1M Revenue, $0.70 EPS, Stock Rises

Aug 29, 2024, 08:07 PM

MongoDB reported strong second-quarter earnings, surpassing analyst expectations. The company achieved a revenue of $478.1 million, exceeding the anticipated $464 million, and an earnings per share (EPS) of $0.70, beating the forecasted $0.49. This performance marks a 13% year-over-year increase in total revenue. MongoDB's Atlas, a significant growth driver, contributed 71% of the total revenue, growing 27% year-over-year. The company reported a gross margin of 73%. Following the earnings report, MongoDB's stock rose significantly in after-hours trading, gaining between 10.75% and 15%. Additionally, MongoDB raised its fiscal year 2025 guidance, projecting third-quarter revenue between $493 million and $497 million, above the consensus of $478.75 million, and non-GAAP EPS between $0.65 and $0.68, surpassing the consensus of $0.60.