MongoDB shares jump more than 20% after database company beats expectations and raises guidance

56 cents per share, adjusted, vs. 19 cents per share as expected by analysts, according to Refinitiv.MongoDB's revenue increased 29% year over year in the quarter that ended April 30, according to a. The net loss for the quarter came out to $54 million, or 77 cents per share, compared with $77 million, or $1.14 per share, in the year-ago quarter, even as the company increased spending on sales and marketing and research and development.

Innovation remains a priority inside organizations, Ittycheria said. But he also said, "it's clear customers continue to scrutinize their technology investments and must decide which technologies are a must-have, versus merely nice to have." With respect to guidance, management called for fiscal second-quarter earnings of 43 cents to 46 cents per share on $388 million to $392 million in revenue. Analysts surveyed by Refinitiv had been looking for 14 cents in adjusted earnings per share and $362 million in revenue.

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