GitLab Shares Up 9 percent on Q3 Beat & Strong Outlook

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GitLab Inc (NASDAQ:GTLB) shares gained more than 9% today after the company reported its Q3 results. Despite some macro headwinds, the company delivered a strong quarter with impressive durability of revenue growth and improved leverage. EPS came in at ($0.10), better than the Street estimate of ($0.15). Revenue was $113 million, beating the Street estimate of $106.04 million.
The company expects Q4/23 EPS to be in the range of ($0.15)-($0.14), compared to the Street estimate of ($0.17), and revenue in the range of $119-120 million, compared to the Street estimate of $119.28 million.
For fiscal 2023, the company expects EPS in the range of ($0.56)-($0.55), compared to the Street estimate of ($0.65). Revenue is seen in the range of $420.5-421.5 million, compared to the Street estimate of $413.71 million.

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