Why MongoDB Stock Crashed Wednesday Morning
Yahoo Finance ·
Shares of MongoDB ( MDB -8.72% ) slumped out of the gate on Wednesday, plunging as much as 14.6%. As of 11:02 a.m. ET, the stock was still down 10.8%. The catalyst that drove the database-as-a-service (DBaaS) provider lower was its quarterly financial report. While the results were better than expected, investors wanted more. For its fiscal 2027 second quarter (ended July 31), MongoDB delivered revenue of $772 million, up 30% year over year, showing that its strategy to tap into the booming demand for artificial intelligence (AI) is paying off. As a result, the company delivered adjusted earnings per share (EPS) of $1.90, which rose 90%. For context, analysts' consensus estimates were looking for revenue of $734 million and adjusted EPS of $1.61, so MongoDB surpassed both benchmarks with room to spare.
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