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Why MongoDB Stock Tanked Today

TheMotleyFool

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Shares of MongoDB (NASDAQ: MDB) have tanked today, down by 9% as of 12:30 p.m. EDT, after the company reported fiscal second-quarter earnings. The results topped expectations, but the broader market is aggressively selling off and may be dragging the stock down with it.

Revenue in the fiscal second quarter increased 39% to $138.3 million, which was ahead of the consensus estimate of $126.8 million. That resulted in an adjusted net loss of $12.7 million, or $0.22 per share, which was better than the $0.40 per share in adjusted losses that Wall Street was expecting.

Image source: MongoDB.

Source Fool.com

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