MongoDB stock fell as much 7 percent on Tuesday after the company reported better-than-expected earnings for the third quarter of its 2018 fiscal year, which ended on Oct. 31. The company will hold a conference call with analysts at 5 p.m. Eastern time.
- EPS: Excluding certain items, loss of 44 cents per share, vs. loss of 48 cents per share as expected by analysts, according to Thomson Reuters.
- Revenue: $41.5 million in revenue vs. $39.6 million as expected by analysts.
After the roughly 7 percent drop, the stock price increased in after-hours trading and stabilized down around 3 percent percent from the closing price of $29.
MongoDB started trading on the Nasdaq in October. Shares of the stock were initially traded at $33.
The company also beat analysts’ estimates for guidance for the fourth quarter of its 2018 fiscal year, which ends Jan. 31, 2017. For that quarter, MongoDB expects a loss of 42 to 43 cents per share and revenue of $42-42.5 million for that quarter, according to a statement. Analysts polled by FactSet had been expecting a loss of 44 cents per share and $41.3 million for that quarter, according to StreetAccount.
Source: Tech CNBC
MongoDB falls despite earnings beat