MongoDB Shares Drop 14% Despite Strong Second Quarter Results

MongoDB Inc. reported second-quarter fiscal 2027 results that surpassed analyst expectations for both profit and revenue. The company's revenue grew 30% year-over-year to $772 million, while adjusted earnings per share rose 90% to $1.90. This growth was largely driven by the Atlas database-as-a-service solution, which now represents 73% of total sales.

Despite these figures and an increased full-year revenue forecast of approximately $3 billion, the company's stock fell roughly 14% in after-hours trading. Investors reacted negatively to third-quarter guidance forecasting growth of approximately 20%, a deceleration from the second quarter's performance.

The sell-off occurs as investors express broader market concerns that artificial intelligence may reduce demand for enterprise software-as-a-service companies.