MongoDB Q1 Revenue Soars 29%

Shares of MongoDB ($MDB @US) surged by as much as 22% in after-hours trading on Thursday following the release of impressive fiscal first-quarter earnings and an upward revision of its full-year guidance. The database software maker reported adjusted earnings of 56 cents per share, surpassing analysts' expectations of 19 cents per share, and generated revenue of $368 million, beating the estimated $347 million. The company added 2,300 new customers during the quarter, totaling 43,100. CEO Dev Ittycheria highlighted the company's successful implementation of its database software by China Mobile, resulting in an 80% performance increase and reduced server usage. The company also extended its partnership with Alibaba, leading to significant consumption growth.