GitLab loses one-third of its value after software company issues weak revenue forecast
Publishing timestamp: 2023-03-13 16:43:02
Summary
GitLab reported better-than-expected earnings and revenue for Q4, but its revenue projection for fiscal year 2024 fell short of expectations, causing its shares to plunge. The company is also instituting a price increase for its premium service tier in April. Despite the weak guidance, GitLab remains optimistic about its ability to hire and grow in the future.
Sentiment: MIXED
Tickers: GTLB,
Keywords: enterprise, business, breaking news: technology, gitlab inc, business news, technology, earnings,
Source: https://www.cnbc.com/2023/03/13/gitlab-gtlb-earnings-q4-2023.html