MongoDB reports Q3 adjusted EPS $1.16 vs. 96c last year

Reports Q3 revenue $529.4M, consensus $495.72M. “MongoDB’s (MDB) third quarter results were significantly ahead of expectations on the top and bottom line, driven by better-than-expected EA performance and 26% Atlas revenue growth. We continue to see success winning new business due to the superiority of MongoDB’s developer data platform in addressing a wide variety of mission-critical use cases,” said Dev Ittycheria, President and Chief Executive Officer of MongoDB. “We continue to invest in our legacy app modernization and AI offerings as our document model and distributed architecture are exceptionally well suited for customers looking to build highly-performant, modern applications. MongoDB is in a great position to be a central pillar of the emerging AI tech stack and benefit from the next wave of application development in the years ahead.”