MongoDB Inc. (MDB) shares plunged 15.95% in the after-hours trading session on Wednesday, despite beating Wall Street's expectations for its fiscal fourth-quarter revenue.
The database software company reported Q4 revenue of $548.4 million, surpassing the consensus estimate of $519.84 million. However, investors seemed to be disappointed with the company's guidance for the upcoming fiscal year, causing the stock to sell off sharply in extended trading.
While MongoDB's Q4 earnings report showcased solid revenue growth and strong demand for its cloud-based database services, the company's outlook for the future may have raised concerns among investors about its ability to sustain its momentum in a challenging macroeconomic environment.
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