GitLab shares soar as developer tools company posts first adjusted operating profit
Publishing timestamp: 2023-12-05 09:54:24
Summary
GitLab reported better-than-expected profit, revenue, and quarterly guidance. The company posted its first adjusted operating profit and saw a 32% year-over-year revenue growth. GitLab's stock jumped 18% in extended trading after the announcement. The company has been attracting customers from Microsoft-owned GitHub, but some small and medium-size customers remain cautious about economic conditions. GitLab is also exploring integration with Amazon Web Services. For the fourth quarter, GitLab expects adjusted earnings of 8 to 9 cents per share on $157 million to $158 million in revenue.
Sentiment: POSITIVE
Keywords: amazon.com inc, technology, earnings, breaking news: technology, enterprise, breaking news: earnings, business, gitlab inc, microsoft corp, business news,
Source: https://www.cnbc.com/2023/12/04/gitlab-gtlb-q3-earnings-report-2024.html