MongoDB Crushed Q4 Estimates, Then Tanked 22% on Weak Guidance
MongoDB beat Q4 revenue expectations but cratered after hours on disappointing Q1 earnings forecast.
MongoDB just pulled the classic Wall Street bait-and-switch. The database giant posted Q4 revenue of $695.1 million, up 27% year-over-year and comfortably ahead of the $670 million analysts expected. Solid quarter by any measure.
Then came the gut punch.
The company's Q1 guidance for adjusted earnings per share landed below what the Street was looking for. Investors didn't wait around to ask questions. MDB shares cratered more than 22% in after-hours trading Monday night.
It's a familiar story in enterprise tech: beat the current quarter, whiff on forward guidance, and watch the stock get demolished. MongoDB's document database platform has been a darling of the developer community, but Wall Street's patience for anything less than perfect forecasts remains razor-thin.
The after-hours bloodbath wiped out months of gains in minutes.