MongoDB Stock Is Moving Lower Wednesday: What's Going On?

Benzinga ·  12/06/2023 21:47

MongoDB Inc (NASDAQ:MDB) shares are trading lower Wednesday after the company reported third-quarter financial results. Here's a rundown of the report. Q3 Revenue: $432.9 million beat estimates of $403.65 millionQ3 EPS: 96 cents beat estimates of 50 cents Revenues were up 30% year-over-year. Cash from operations totaled $38.4 million in the quarter. MongoDB generated $35 million in free cash flow in the third quarter compared to negative free cash flow of $8.4 million in the comparable quarter last year. The company ended the quarter with $1.9 billion in cash, equivalents, restricted cash and short-term investments. "MongoDB continued to perform at a high level in the

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