MongoDB raised its full-year outlook and reported higher second-quarter sales, citing demand for its Atlas offering and early momentum with artificial intelligence use cases.

The results and guidance topped Wall Street's expectations. However, the stock slid 11%, to $385, in late trading.

The document database company said Tuesday it now projects revenue of $2.99 billion to $3.03 billion for the year, compared with $2.92 billion to $2.96 billion previously. It now expects adjusted earnings per share of $6.39 to $6.58, from a prior range of $5.95 to $6.14.

The company said the guidance raise was mainly due to the strength of Atlas, its fully managed cloud database service. Revenue from Atlas gained 29% in the second quarter, helping overall sales grow at their highest level in years, according to the company.

MongoDB's second-quarter profit was $40.9 million, or 50 cents a share, compared with a loss of $47 million, or 58 cents a share, a year earlier.

Adjusted earnings per share were $1.90, compared with analyst estimates of $1.62, according to FactSet.

Revenue climbed 30% to $771.8 million. Analysts had projected revenue of $735 million.

MongoDB said the results were driven by core enterprise workloads and early momentum with AI use cases.

For the current third quarter, MongoDB guided for revenue of $756 million to $761 million and adjusted per-share earnings of $1.57 to $1.61. Analysts expect revenue of $745.2 million and adjusted earnings of $1.54 a share.