MongoDB jumps 13% after company boosts guidance, cites confidence in cloud-based database service

MongoDB shares surged 13% after the software company surpassed fiscal first-quarter earnings expectations and raised its outlook, citing growing confidence in its cloud-based database service. Revenues hit $549 million during the period, jumping 22% from more than $450 million in the year-ago period. That topped a $528 million estimate from analysts polled by LSEG. Adjusted earnings per share reached $1.00, surpassing the 66 cents per share projected by analysts. "We are confident in our position to drive profitable growth as we benefit from this next wave of application development," said CEO and president Dev Ittycheria in a release. For the 2026 fiscal year, MongoDB raised its guidance, saying it now expects between $2.25 billion and $2.29 billion in revenue, and $2.94 to $3.12 in adjusted earnings per share. MongoDB previously forecast revenue between $2.24 billion and $2.28 billion, and adjusted earnings of $2.44 to $2.62 per share for the year. ... Read full article.