5 Notable Earnings Reports to Watch

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1. MongoDB, Inc. (NASDAQ:MDB)

Number of Hedge Fund Holders: 56

Shares of MongoDB, Inc. (NASDAQ:MDB) surged over 13 percent in the pre-market trading session on Wednesday, March 9, 2022, after posting a narrower-than-expected loss for its fiscal fourth quarter.

MongoDB, Inc. (NASDAQ:MDB) reported an adjusted loss of 9 cents per share, lower than the loss of 33 cents per share in the year-ago period. Revenue for the quarter climbed 56 percent on a year-over-year basis to $266.5 million. The results were better than the consensus estimate for a loss of 22 cents per share on revenue of $241.76 million.

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MongoDB, Inc. (NASDAQ:MDB) also disclosed its segment-wise sales performance. Its subscription revenue climbed 58 percent to $258.2 million, while services revenue jumped 17 percent to $8.3 million in the quarter.

Moving forward, MongoDB, Inc. (NASDAQ:MDB) projected an adjusted loss in the range of 12 – 8 cents per share and revenue between $263 – $267 million for the current quarter. This compares to analysts’ average estimate of 17 cents per share for loss and $253.6 million for revenue.

Speaking on the results, CEO Dev Ittycheria said:

“MongoDB delivered exceptional fourth quarter results, highlighted by delivering 85% Atlas revenue growth and surpassing $1 billion in annualized revenue.  Our success is being driven by the fact that our modern application data platform dramatically reduces friction in the development process to make it incredibly easy for developers to build compelling applications that create a competitive advantage.”

You can also take a peek at Top 10 Stocks Billionaire Seth Klarman is Selling Off and 10 Undervalued Dividend Kings To Buy In 2022.

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