After-Hours Alert: Why MongoDB Stock Is Trading Lower

MongoDB Inc MDB shares are trading lower in Wednesday's after-hours session after the company reported second-quarter financial results and issued earnings guidance below analyst estimates. 

MongoDB said fiscal second-quarter revenue increased 53% year-over-year to $303.66 million, which beat average analyst estimates of $282.39 million, according to Benzinga Pro. The company reported a quarterly net loss of 23 cents per share, which beat average analyst estimates for a loss of 28 cents per share.

"We are seeing robust growth in new workloads being deployed on our platform, which is indicative of the critical role we play in enabling customers to build and run mission critical applications that transform their business," said Dev Ittycheria, president and CEO of MongoDB.

MongoDB expects third-quarter revenue to be between $300 million and $303 million versus the estimate of $294.85 million. The company expects a third-quarter net loss between 16 cents and 19 cents per share versus the estimate of 14 cents per share. 

MongoDB sees full-year revenue in a range of $1.196 billion to $1.206 billion versus the estimate of $1.19 billion. The company anticipates a full-year net loss between 28 cents and 35 cents per share versus the estimate for a loss of 21 cents per share. 

Check This Out: Why Is Okta Stock Falling After Hours?

MDB Price Action: MongoDB has a 52-week high of $519.54 and a 52-week low of $213.39.

The stock was down 6.46% in after hours at $302 on Wednesday.  

Photo: Garrett Heath from Flickr.