MongoDB (NASDAQ: MDB) reported second-quarter 2021 financial results after the closing bell on Wednesday. The software company reported a 39% increase in Q2 revenues to $138.3 million, beating Wall Street consensus. Adjusted loss per share of $0.22 per share was also narrower than what analysts had anticipated.
The topline was driven by a 66% growth in Atlas revenue.
Buoyed by the strong results, the company raised its revenue outlook for fiscal 2021 to $549- 554 million. During this period, adjusted loss per share is projected between $1.21 and $1.29.
For the third quarter, MongoDB expects a loss of 45-48 cents per share on revenues of $137-139 million.
MDB shares rose 1% immediately following the announcement. The stock has gained 80% so far this year.
“While we continue to expect to see an impact from COVID-19 on our business, the strength of our modern data platform and the rising importance of digital transformation and cloud migration are making MongoDB an increasingly strategic partner for our customers,” CEO Dev Ittycheria said in a statement.
Shares of Beyond Meat Inc. (NASDAQ: BYND) were down 4% on Wednesday. The stock has dropped 22% over the past 12 months and 16% since the beginning of this year.
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Video game company Electronic Arts, Inc. (NASDAQ: EA) reported lower earnings and revenues for the fourth quarter of 2021. Earnings also missed analysts' forecast. During the March quarter, net bookings