MongoDB shares sink 23% after management trims guidance
Publishing timestamp: 2024-05-30 18:04:24
Summary
MongoDB's slower consumption growth in the April quarter led to a reduction in their fiscal 2025 forecast, causing their stock to drop by 26%. Revenue growth has slowed for the third consecutive quarter, with new guidance calling for only 12% growth for the fiscal year. The company's president and CEO cited slower-than-expected start to the year for the decline in performance.
Sentiment: NEGATIVE
Keywords: business news, mongodb inc, breaking news: earnings, earnings, enterprise, business, technology, salesforce inc, breaking news: technology,
Source: https://www.cnbc.com/2024/05/30/mongodb-shares-sink-23percent-on-.html