GitLab Shares Climb After Outlook Raise, Strong 3Q

Dow Jones

2024/12/06

By Dean Seal

Shares of GitLab jumped after the company raised its full-year guidance amid rising demand from software developers.

The stock was up 8.2% at $71.45 in premarket trading Friday. Shares had gained about 5% year-to-date when the market closed Thursday.

The San Francisco code-hosting platform said after yesterday's closing bell that it now expects adjusted earnings of 63 cents to 64 cents a share for the year on $753 million to $754 million in revenue. That is up from previous targets for up to 47 cents a share on as much as $744 million in revenue.

The outlook includes fourth-quarter targets that were well above the consensus estimate of analysts polled by FactSet.

The lift came after revenue jumped 31% to $196 million in the third quarter, topping analyst projections for $187.9 million. Adjusted earnings of 23 cents a share beat forecasts by 7 cents.

Gitlab co-founder Sid Sijbrandij, who said Thursday he would step down as chief executive to focus on his cancer treatment, attributed the gains to strong demand for a platform approach to software development. The company tapped Bill Staples, former CEO of New Relic, to succeed Sijbrandij.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

December 06, 2024 06:52 ET (11:52 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Shares had gained about 5% year-to-date when the market closed Thursday. \n</p>\n<p>\n  The San Francisco code-hosting platform said after yesterday's closing bell that it now expects adjusted earnings of 63 cents to 64 cents a share for the year on $753 million to $754 million in revenue. That is up from previous targets for up to 47 cents a share on as much as $744 million in revenue. \n</p>\n<p>\n  The outlook includes fourth-quarter targets that were well above the consensus estimate of analysts polled by FactSet. \n</p>\n<p>\n  The lift came after revenue jumped 31% to $196 million in the third quarter, topping analyst projections for $187.9 million. Adjusted earnings of 23 cents a share beat forecasts by 7 cents. \n</p>\n<p>\n  Gitlab co-founder Sid Sijbrandij, who said Thursday he would step down as chief executive to focus on his cancer treatment, attributed the gains to strong demand for a platform approach to software development. The company tapped Bill Staples, former CEO of <a href=\"https://laohu8.com/S/NEWR\">New Relic</a>, to succeed Sijbrandij. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 06, 2024 06:52 ET (11:52 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4097","symbol_name":"系統軟件","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2489328520","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2489328520","pubTimestamp":1733485920,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of GitLab jumped after the company raised its full-year guidance amid rising demand from software developers.The stock was up 8.2% at $71.45 in premarket trading Friday. 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Shares had gained about 5% year-to-date when the market closed Thursday. \n\n\n  The San Francisco code-hosting platform said after yesterday's closing bell that it now expects adjusted earnings of 63 cents to 64 cents a share for the year on $753 million to $754 million in revenue. That is up from previous targets for up to 47 cents a share on as much as $744 million in revenue. \n\n\n  The outlook includes fourth-quarter targets that were well above the consensus estimate of analysts polled by FactSet. \n\n\n  The lift came after revenue jumped 31% to $196 million in the third quarter, topping analyst projections for $187.9 million. Adjusted earnings of 23 cents a share beat forecasts by 7 cents. \n\n\n  Gitlab co-founder Sid Sijbrandij, who said Thursday he would step down as chief executive to focus on his cancer treatment, attributed the gains to strong demand for a platform approach to software development. 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