shares of MongoDB Extended trading jumped as much as 22% on Thursday after the database software maker released solid first-quarter fiscal earnings and lifted full-year guidance.

Earning: 56 cents per share, adjusted, versus the 19 cents analysts expected, according to Refinitiv.

Income: $368 million, according to Refinitiv, versus $347 million as analysts had expected.

MongoDB’s revenue grew 29% year over year in the quarter ended April 30, according to a statement. Net loss for the quarter widened to $54 million, or 77 cents per share, compared to $77 million, or $1.14 per share, in the year-ago quarter, even as the company increased spending on sales and marketing and research and development.

The company added 2,300 clients in the quarter, bringing its total to 43,100 people, which was above the Street Account consensus of 42,430 people.

China Mobile launched a service to share billing information with customers Oracle MongoDB’s performance increased by 80% and the number of underlying servers decreased from 50 to 12, CEO DevĀ  said on a conference call with analysts.

Innovation remains a priority within organizations, Iticheria said. But he also added, “It’s clear that customers continue to scrutinize their technology investments and have to decide which technologies are a must-have versus just a good-to-have.”

During the quarter, MongoDB extended its partnership with Alibaba to 2027. MongoDB said in the statement that this arrangement has led to “an 8x increase in consumption” since its launch in 2019.

Regarding guidance, management called for fiscal second quarter earnings of 43 cents to 46 cents per share on $388 million to $392 million in revenue. Analysts polled by Refinitiv were looking for 14 cents in adjusted earnings per share and $362 million in revenue.

MongoDB raised its fiscal 2024 forecast for both revenue and earnings. Guidance calls for $1.42 to $1.56 in adjusted earnings per share on $1.522 billion to $1.542 billion in revenue, representing growth of 19.5%. In March, MongoDB said it was expecting full-year adjusted earnings per share of 96 cents to $1.10 on revenue of $1.48 billion to $1.51 billion. Analysts were expecting adjusted earnings per share of $1.03 and revenue of $1.51 billion.

Before the after-hours move, MongoDB stock was up 49% year-to-date, compared with a nearly 10% gain in the S&P 500 index.

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