MongoDB Stock Plunges After Q1 Results, Weak Forward Guidance
Portfolio Pulse from Erica Kollmann
MongoDB, Inc. (NASDAQ:MDB) reported better-than-expected Q1 earnings and revenue but issued weak forward guidance, leading to a 22.72% drop in its stock price after-hours.
May 30, 2024 | 9:11 pm
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MongoDB reported Q1 earnings of 51 cents per share, beating estimates by 27.5%, and revenue of $450.56 million, beating estimates by 2.48%. However, weak forward guidance led to a 22.72% drop in its stock price after-hours.
Despite strong Q1 results, MongoDB's weak forward guidance for Q2 and fiscal-year 2025 earnings and revenue has led to a significant drop in its stock price. Investors are likely reacting to the lower-than-expected future performance projections.
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