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MongoDB Jumps After Forecast, Reported Revenue Top Estimates

  • Sales rise 50% on strong demand for flagship database
  • Company appoints former AWS executive Ulander as CMO

MongoDB Inc. shares rose more than 15% in extended trading after the database provider reported better-than-expected quarterly results and projected strong sales through the rest of the fiscal year.

Revenue will be as much as $242 million in the current period, which ends in January, compared with analysts’ average estimate of $226 million. The company projected an adjusted loss of as much as 24 cents a share. Analysts estimated 35 cents, according to data compiled by Bloomberg.