By ET Bureau - September 06, 2023 1 Mins Read
GitLab Inc. stock climbed more than 5% in extended trading today after the DevOps company reported better-than-expected quarterly earnings and revenue.
GitLab reported adjusted earnings of a penny per share for the quarter that ended July 31, up from a loss of 15 cents per share in the same quarter last year, on revenue of USD 139.6 million, up 38% year over year. Analysts had predicted a loss of four cents per share on revenue of USD 138.11 million, so both results exceeded expectations.
At the end of the quarter, GitLab had 7,815 base customers, up 37% year over year, including 810 with a turnover of over USD 100,000. GitLab’s platform now has over 30 million users, and more than half of the Fortune 100 now uses GitLab.
The platform covers e entire enterprise technology space- including emerging technologies like RPA, AI, cloud, automation, and the entire gamut of digital transformation tools, strategies and management decisions.
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