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Cloud Stocks: MongoDB Expands its Cloud IaaS Capabilities

The global database-as-a-service market is expected to grow at 15.7% CAGR from $13.5 billion in 2022 to $43.1 billion by 2030. MongoDB (Nasdaq: MDB), a leading player in the market, is looking to address this growing market by expanding its tie-ups with various cloud players. MongoDB's Financials MongoDB's revenues for the quarter grew 36% to $361.3 million, ahead of the market's forecast of $335.84 million. Adjusted net income of $0.57 per share was also ahead of the Street's forecast of a net income of $0.07 per share. By segment, Subscription revenues grew 35% to $348.2 million, and services revenues grew 59% to $13.1 million. For the fiscal year, MongoDB's revenues grew 47% to $1.284 billion and earnings was $0.81 per share. For the first quarter, MongoDB expects revenues of $344-$348 million and a net income of $0.17-$0.20 per share. The market was looking for revenues of $346.14 million and a net income of $0.15 per share. It expects to end the year with ....

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The 6 Best Monero (XMR) Wallets
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