Earnings

GitLab (GTLB) fiscal Q1 earnings report 2024

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People celebrate the Gitlab IPO at the Nasdaq, October 14, 2021.

Source: Nasdaq

GitLab shares rose 31% on Tuesday after the provider of code-deployment software notched a loss that was narrower than analysts expected while reporting an improved full-year forecast.

The stock enjoyed its best day since GitLab’s 2021 Nasdaq debut. It’s still roughly 65% below its peak from November of that year, the month that tech stocks reached record levels. After that, investors began shifting money out of risky assets on concerns of slowing growth and rising interest rates.

GitLab said revenue in the fiscal first quarter ended April 30 jumped 45% to $126.9 million from $87.4 million a year earlier. The…



Source cnbc.com

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