MongoDB Posts Earnings Beat but Shares Dip; Revenue Growth Hits 22%
MongoDB (MDB) reported Q3 earnings of $1.16 per share, surpassing analyst expectations by 68% and marking its fourth consecutive earnings beat. Revenue grew 22% year-over-year to $529.38 million, outpacing estimates by nearly 7%. Despite the strong financial performance, shares fell 1.8% in after-hours trading, reflecting investor caution. MongoDB has faced a 16% decline in stock value year-to-date, contrasting with broader market gains. Investors now focus on forward guidance and how the company adapts to challenges in the competitive database and cloud markets.
Another key player in the Internet-Software industry, KANZHUN LIMITED Sponsored ADR (BZ), is set to release its earnings for Q3 2024 on December 11. The company is projected to post earnings of $0.22 per share, consistent with the prior year’s results, with no changes to the consensus EPS estimate in the past 30 days. Revenue is forecasted at $266.36 million, reflecting a robust 21% year-over-year growth.
KANZHUN LIMITED operates in the talent acquisition and recruitment sector in China, leveraging its technology-driven platform to connect job seekers with employers efficiently. With expectations of steady EPS and double-digit revenue growth, investors will closely monitor how KANZHUN manages challenges in the competitive Chinese market while navigating global economic uncertainties. This release could influence broader sentiment for tech companies operating in emerging markets.
