MongoDB (NASDAQ:MDB) shares surged more than 28% on Friday after the company released its Q1 earnings, with EPS of $0.56 coming in above the Street estimate of $0.18. Revenue was $368.3 million, compared to the Street estimate of $347.67 million.
Management pointed to existing workload consumption above expectations, coupled with stronger new business trends including record new workloads from existing customers.
Management anticipates Q2/24 EPS to be in the range of $0.43-$0.46, above the Street estimate of $0.14, and revenue in the range of $388-$392 million, compared to the Street estimate of $361.59 million.
For the full 2024 year, management sees EPS at $1.42-$1.56, above the Street estimate of $1.03, and revenue at $1.522-$1.524 billion, compared to the Street estimate of $1.51 billion.