Investing.com - Gitlab reported on Tuesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Gitlab announced earnings per share of $-0.15 on revenue of $101M. Analysts polled by Investing.com anticipated EPS of $-0.2306 on revenue of $94.44M.
Gitlab shares are down 45% from the beginning of the year , still down 65.40% from its 52 week high of $137.00 set on Tuesday, November 9, 2021. They are under-performing the Nasdaq which is down 26.21% year to date.
Gitlab follows other major Information Technology sector earnings this month
Gitlab's report follows an earnings beat by NVIDIA on Wednesday, August 24, 2022, who reported EPS of $0.51 on revenue of $6.7B, compared to forecasts EPS of $0.4991 on revenue of $6.7B.
Broadcom had beat expectations on Thursday, September 1, 2022 with third quarter EPS of $9.73 on revenue of $8.46B, compared to forecast for EPS of $9.56 on revenue of $8.41B.
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