MongoDB earnings for the company’s fiscal fourth quarter of 2019 have MDB stock flying high on Thursday.
MongoDB (NASDAQ:MDB) starts off the earnings report for its fiscal fourth quarter of 2019 with losses per share of 26 cents. This is an improvement over the company’s losses per share of 40 cents from the same time last year. It was also a boon to MDB stock by beating out Wall Street’s losses per share estimate of 38 cents for the quarter.
Net loss reported in the MongoDB earnings release for the company’s fiscal fourth quarter of the year was $27.10 million. This is a slightly larger net loss than the $26.40 million that was reported in its fiscal fourth quarter of 2018.
The MongoDB earnings report for its fiscal fourth quarter of 2019 also includes an operating loss of $28.70 million. The cloud storage company reported an operating loss of $27.30 million for the same period of the year prior.
The most recent MongoDB earnings report also has the company reporting revenue of $83.10 million. This is an 85% increase over the company’s revenue from its fiscal fourth quarter of the previous year. It was also good news for MDB stock by coming in above analysts’ revenue estimate of $74.00 million for the period.
The MongoDB earnings report for its fiscal fourth quarter of 2019 also includes its outlook for fiscal 2020. The company is expecting losses per share between 98 cents and $1.05 on revenue between $363.00 million to $371.00 million. Wall Street is looking for losses per share and revenue of $1.28 and $347.76 million in fiscal 2020.
MDB stock was up 26% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.