AI Software Demand Helps Lift MongoDB Stock
MongoDB(MDB) Investopedia·2024-08-30 06:25
Key Takeaways MongoDB raised its guidance after beating expectations on the top and bottom lines. Sales of MongoDB Atlas rose 27%, making up 71% of total revenue at the database software company. CEO Dev Ittycheria said the company is "well positioned" to help businesses incorporate generative AI. MongoDB (MDB) shares rocketed higher after the bell Thursday after the company raised its full-year guidance alongside second-quarter results that topped expectations. The database software company now expects 202 ...