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MongoDB Stock Surges 34% on Strong AI-Driven Earnings Beat
MongoDB Stock Surges 34% on Strong AI-Driven Earnings Beat
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BTCCSquare news:
MongoDB shares skyrocketed as much as 34% Wednesday after the database specialist obliterated Wall Street expectations with its fiscal Q2 results. Revenue climbed 24% year-over-year to $591.4 million, while adjusted EPS of $1.00 reversed last year's loss. The company added 2,800 net new customers, bringing its total to 58,300.
CEO Dev Ittycheria highlighted MongoDB's strategic focus on AI infrastructure as a key growth driver. The company generated $72.1 million in operating cash flow, demonstrating the scalability of its platform. This performance validates the market's appetite for data infrastructure plays in the AI revolution.
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