A few high-profile technology stocks reported their quarterly earnings last week, including cloud database specialist MongoDB (NASDAQ: MDB), e-signature company DocuSign (NASDAQ: DOCU), and video communications company Zoom Video (NASDAQ: ZM). The stocks of all three of these companies made big moves after earnings, with two moving higher and one falling sharply.
Here's a closer look at these three cloud-based companies' earnings reports.
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After crushing analyst estimates when it reported its fiscal fourth-quarter results earlier this year, MongoDB had expectations running high going into its fiscal first-quarter update. But the cloud database company has still managed to outperform analysts' high bar for the period, beating both top- and bottom-line estimates.
Fiscal first-quarter revenue soared 78% year over year -- an acceleration compared to 71% growth in fiscal Q4. MongoDB Atlas revenue, which accounts for 35% of total revenue, soared 340% year over year.
Powering the quarter's momentum, MongoDB saw strength across all of its products and geographies, management said in the company's fiscal first-quarter earnings release.
Between Monday and Friday, shares rose a total of 21%. The bulk of these gains came in the days following MongoDB's earnings release.
Though e-signature specialist DocuSign beat expectations for both revenue and non-GAAP EPS, the stock still fell 12% during the trading day following the company's fiscal first-quarter earnings release. That was probably due to a deceleration in DocuSign's billings growth. Billings were up 27% year over year, down from 31% growth in the company's fiscal fourth quarter.
But investors shouldn't overlook the e-signature specialist's 37% year-over-year revenue growth -- an acceleration from 34% growth in the prior quarter -- and its 33% jump in the number of enterprise and commercial customers on its platform. In addition, free cash flow came in at $30 million, up from $9 million in the year-ago quarter.
Investors are quickly learning about Zoom Video's ability to grow its business at uncanny rates. In the company's first reported quarter as a public company, Zoom's revenue surged 103% year over year to $122 million. The performance was fueled by an impressive 120% year-over-year jump in the number of customers on its platform who each contribute over $100,000 in trailing-12-month revenue.
"While we remain focused on strong growth," explained Zoom CEO Eric Yuan regarding the company's fiscal first-quarter earnings release, "we are also pleased that our highly efficient business model and disciplined investment approach contributed to positive non-GAAP profitability and free cash flow."
Free cash flow for the quarter was $15.3 million, up from negative-$1.1 million in the year-ago quarter.
Zoom Video's stock soared 18.4% on Friday, following the video communications company's earnings release on Thursday afternoon.
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