MongoDB's stock price experiences a 12% increase following positive guidance.

• Better-than-expected cloud consumption trends pushed up MongoDB's results.
• The company increased its guidance for the fiscal year ending in January 2025.

On Thursday, the database software maker's shares experienced a 16% increase in extended trading after reporting healthy fiscal second-quarter earnings and raising full-year guidance.

Here's how the company did against LSEG consensus:

• Earnings per share: 70 cents adjusted vs. 49 cents expected
• Revenue: $478.1 million vs. $464.1 million

In the quarter that ended July 31, MongoDB's revenue increased by 13% year over year, while its net loss was $54.5 million, or 74 cents per share, compared to $37.6 million, or 53 cents per share, in the same quarter the previous year.

Atlas cloud database service consumption exceeded expectations, according to CEO Dev Ittycheria, who stated that the company is well-positioned to assist customers in integrating generative AI into their businesses and modernizing their legacy application estates.

MongoDB forecasted adjusted earnings per share of 65 to 68 cents for the fiscal third quarter, with revenue of $493.0 million to $497.0 million, while analysts surveyed by LSEG predicted 60 cents in adjusted earnings per share on $478.8 million in revenue.

MongoDB has revised its fiscal 2025 forecast, with adjusted earnings per share projected to be between $2.33 and $2.47, and revenue expected to be between $1.92 billion and $1.93 billion. This is an improvement from the May guidance of $2.15 to $2.30 in adjusted earnings per share and $1.88 billion to $1.90 billion in revenue. Analysts had predicted $2.26 per share in adjusted earnings and $1.90 billion in revenue.

While the S&P 500 index has gained 17% in the same period, MongoDB shares were down almost 40% on the year, excluding the after-hours move.

Analysts will receive a conference call from executives to discuss the results starting at 5 p.m. ET.

This is breaking news. Please check back for updates.

MongoDB, data center development, AI boom, and cloud spending trends are topics that are being discussed in the video.