Why MongoDB Stock Leapt Higher This Week
Shares of MongoDB (NASDAQ: MDB) charged sharply higher this week, surging as much as 12%. As of market close on Thursday, the stock was still up 10.6%.
The catalyst that sent the database-as-a-service company higher was its quarterly earnings report that significantly exceeded expectations.
For its fiscal 2022 fourth quarter (ended Jan. 31, 22), MongoDB generated revenue of $266.5 million, an increase of 56% year over year. Perhaps as importantly, subscription revenue grew even faster, generating revenue of $258.2 million, up 58%. The company's adjusted net loss of $6.3 million was much improved, resulting in a loss per share of $0.09.
Source Fool.com
