financemarket.news

 

 

 

GitLab’s weak earnings guidance is punishing its stock



GitLab Inc.’s stock dropped 12% in after-hours trading Monday after the company posted quarterly results that topped analysts’ estimates but issued weak guidance.

GitLab
GTLB,
+1.58%

reported a fiscal fourth-quarter net loss of $37.6 million, or 23 cents a share, compared with a net loss of $42.1 million, or 26 cents a share, in the same quarter a year ago. Adjusted earnings were 15 cents a share.

Revenue climbed 33% to $163.8 million from $122.9 million in the year-ago quarter.

Analysts surveyed by FactSet had expected on average net income of 8 cents a share on revenue of $157.9 million.

GitLab projected full-year adjusted earnings of 19 cents a share to 23 cents a share, while FactSet analysts are forecasting 35 cents a share.

Shares of GitLab have soared 45% this year, while the broader S&P 500 index
SPX,
-0.12%

has increased 27%.



Read More: GitLab’s weak earnings guidance is punishing its stock

Leave a comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.