MongoDB Inc (NASDAQ:MDB) shares fell 4.5% in extended trading Tuesday despite the company topping expectations on the top and bottom lines with its third-quarter results.
The database software company posted adjusted earnings of $0.96 per share, compared to Street expectations of $0.51 per share. Revenue was $432.9 million, up 30% year-over-year, and above expectations of $406.3 million.
"The recent general availability release of MongoDB Vector Search is the latest example of the strength of our innovation flywheel and reinforces our competitive advantage in winning AI workloads," CEO Dev Ittycheria said in a statement.
Looking ahead, MongoDB guided for fourth-quarter revenue of $429 million to $433 million and adjusted earnings of $0.44 to $0.46 per share.
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