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 ...