GitLab Inc. Q2 Earnings and Revenues Surpass Estimates
GitLab Inc. (NASDAQ: GTLB) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.10 per share. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this company would post a loss of $0.04 per share when it actually produced earnings of $0.03, delivering a surprise of 175%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Gitlab, which belongs to the Zacks Internet – Software industry, posted revenues of $182.58 million for the quarter ended July 2024, surpassing the Zacks Consensus Estimate by 3.42%. This compares to year-ago revenues of $139.58 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Gitlab shares have lost about 24.7% …
Full story available on Benzinga.com