MongoDB stock jumps 15% on earnings and revenue beat, strong guidance
MongoDB shares rose 15% in after-hours trading on Monday after the company announced third-quarter earnings that topped Wall Street estimates and issued a strong forecast.
The database software maker reported a revenue of $628 million, which was up 19% year over year, blowing past the $592 million expected by LSEG analysts.
The company’s adjusted earnings per share of $1.32 also beat Wall Street’s projections of 80 cents per share.
CEO Chirantan “CJ” Desai told CNBC’s Jon Fortt on Monday that the company saw “significant growth” in its large enterprise segment during the third quarter, driven by rising demand in the Americas, Europe, the Middle East and Africa.
“In addition, our self-service business delivered exceptional results,” Desai said. “We had many, many customers, including digital natives, AI natives, and developers around the world who are building on MongoDB.”
Desai succeeded former CEO Dev Ittycheria, who led MongoDB for 11 years, in November.
The company posted a net loss of $2.01 million during the quarter, a loss of 2 cents per share. A year ago, the company reported a net loss of $9.78 million, a loss of 13 cents per share.
Adjustments to earnings were made for expenses related to stock-based compensation, the amortization of intangible assets and income taxes.
The company said it expects fourth-quarter revenue to reach between $665 million and $670 million.
MongoDB raised its full-year 2026 guidance to a range of $2.434 billion to $2.439 billion vs its prior guidance of $2.34 billion to $2.36 billion. Analysts polled by FactSet expected $2.36 billion.
MongoDB year-to-date stock chart.
Technology
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John Giannandrea.
David Paul Morris | Bloomberg | Getty Images
Apple’s AI chief is stepping down, the company announced Monday in the most visible shake up yet to the iPhone maker’s artificial intelligence group since launching its Apple Intelligence suite in 2024.
John Giannandrea, who held the position since joining the company in 2018, will be replaced by Amar Subramanya, an AI researcher who most recently worked for Microsoft and was previously part of Google’s DeepMind AI unit, according to his LinkedIn profile.
Giannandrea was a senior vice president and reported to Apple CEO Tim Cook. He will continue to serve as an advisor until retiring next spring, Apple said.
The change comes as experts this year have said Apple has fallen behind its tech peers in artificial intelligence, a tech field that has been reinvigorated since OpenAI launched ChatGPT in 2022.
Apple Intelligence, which was intended to put Apple alongside AI leaders like OpenAI and Google, has not been well-reviewed by users and critics. Earlier this year, one of its most critical aspects, a significantly improved Siri assistant, was delayed until 2026, signaling development challenges.
Subramanya will serve as Apple’s vice president of AI, and will report to software chief Craig Federighi, the company said.
In a statement, Cook said Federighi has already been playing a key role in Apple’s AI efforts.
“In addition to growing his leadership team and AI responsibilities with Amar’s joining, Craig has been instrumental in driving our AI efforts, including overseeing our work to bring a more personalized Siri to users next year,” Cook said in a statement.
Subramanya will lead teams working on Apple’s foundation models, research and AI safety. Other teams previously under Giannandrea will move under COO Sabih Khan and services chief Eddy Cue, Apple said.
Although Apple shares are up 16% in 2025, they have lagged many other big tech companies as investors say the iPhone maker has fallen behind its peers that are investing billions into AI data centers, chips and frontier models.
Apple said in August that it was “significantly increasing” the amount it spends on AI, and Cook has said it’s a “profound” technology. Apple has struck a deal with leader OpenAI to integrate ChatGPT into some of its products, like Siri.
But Apple is playing a different game than companies like Microsoft, Google, and Meta. It’s spending much less on infrastructure for the technology. Apple also prefers its AI to run on its devices, instead of communicating back to more powerful computers in the cloud.
Apple this year also saw Jony Ive, its legendary hardware designer who helped late co-founder Steve Jobs invent the iPhone, sell his startup io for $6.4 billion to OpenAI, with the intention of helping the AI lab release its own hardware.
Analysts say that Apple has built a loyalty moat among its customers since the iPhone launched in 2007, but AI-driven hardware is on its way, with Ive and OpenAI CEO Sam Altman last month saying that they’ve already completed their first prototypes and could reveal them in two years or less.
WATCH: Apple will gain more AI functionality over time, says D.A. Davidson’s Gil Luria
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