MongoDB Third Quarter Earnings 2022
MongoDB and its business are growing, which can be seen through the company’s expectation beating third-quarter earnings report for 2022. As a result, the share price has seen a steep increase in value to signify the reported growth. The investors and wall street analysts seem to be happy about it and anything that makes an investor happy also ends up gaining respect in my book of good businesses.
Let’s have a look at the earnings numbers and break them down in proper proportion to get an idea of what is happening with the company and its services. Before that, here is a must-read intro about MongoDB. Read it without skipping.
Wikipedia snippet about MongoDB: MongoDB is a source-available cross-platform document-oriented database program. Classified as a NoSQL database program, MongoDB uses JSON-like documents with optional schemas. MongoDB is developed by MongoDB Inc. and licensed under the Server Side Public License (SSPL).
10gen software company began developing MongoDB in 2007 as a component of a planned platform as a service product. In 2009, the company shifted to an open-source development model, with the company offering commercial support and other services. In 2013, 10gen changed its name to MongoDB Inc.
On October 20, 2017, MongoDB became a publicly-traded company, listed on NASDAQ as MDB with an IPO price of $24 per share.
MongoDB is a global company with US headquarters in New York City and International headquarters in Dublin. End of the snippet.
Now, coming back to the topic of this blog post, here are the numbers.
Revenue: MongoDB has generated quarterly earnings of $226.9 million U.S. dollars against the $205.2 million U.S. dollars expectation and prediction of wall street analysts. The margin of difference in this metric is really great and confidence-inducing for the investors.
Loss per share: The company has only lost 11 cents per share in the past quarter in comparison to the predicted loss of 38 cents per share by the stock analysts. Again in this metric, the margin of difference is beyond good.
And, after a good earnings report announcement, the stock price chart looks something like this.
On top of all this, the company has also signaled good guidance for the upcoming quarter to put a quite long-lasting smile on its investor's faces. And, I love it when a business grows like this. It’s so satisfying to look at such businesses and their balance sheets.
Kudos to the MongoDB management and technical team for putting up such a great show of business and growth.
Thank you for reading this, and God Bless Everyone.
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