GitLab Inc. (GTLB) Surpasses Q3 Earnings and Revenue Estimates

Core Viewpoint - GitLab Inc. reported quarterly earnings of $0.23 per share, exceeding the Zacks Consensus Estimate of $0.16 per share, marking a 43.75% earnings surprise compared to $0.09 per share a year ago [1][2]. Financial Performance - The company achieved revenues of $196.05 million for the quarter ended October 2024, surpassing the Zacks Consensus Estimate by 4.46% and showing an increase from $149.67 million year-over-year [2]. - Over the last four quarters, GitLab has consistently surpassed consensus EPS estimates and revenue estimates [2]. Stock Performance - GitLab shares have increased approximately 5.7% since the beginning of the year, while the S&P 500 has gained 27.6% [4]. - The current Zacks Rank for GitLab is 3 (Hold), indicating expected performance in line with the market in the near future [7]. Earnings Outlook - The consensus EPS estimate for the upcoming quarter is $0.14 on revenues of $204 million, and for the current fiscal year, it is $0.46 on revenues of $743.41 million [8]. - The trend of estimate revisions for GitLab is currently mixed, which may change following the recent earnings report [7]. Industry Context - The Internet - Software industry, to which GitLab belongs, is currently ranked in the top 16% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [9].