Gitlab Inc (NASDAQ:GTLB) shares are trading higher by 21.7% at $48.50 after the company reported better-than-expected first-quarter adjusted EPS and sales results and issued second-quarter adjusted EPS and sales guidance above estimates.
GitLab reported quarterly losses of 18 cents per share which beat the analyst consensus estimate of a loss of 27 cents. The company reported quarterly sales of $87.41 million which beat the analyst consensus estimate of $77.81 million by 12%. This is a 75% increase over sales of $49.93 million in the same period last year.
