Why GitLab Shares Are Surging After Hours

GitLab Inc GTLB is trading higher in Monday's after-hours session following better-than-expected fourth-quarter financial results.

GitLab reported quarterly revenue of $77.8 million, which beat the $70.29 million estimate. The company reported a quarterly earnings loss of 16 cents per share, which beat the estimate for a loss of 25 cents per share. 

GitLab expects first-quarter revenue to be between $77 million and $78 million, versus the $72.75 million estimate. 

The company said it expects to record a first-quarter earnings loss of 27 to 28 cents per share, versus the estimate for a loss of 30 cents per share. 

GitLab operates a platform that empowers organizations to maximize overall return on software development by delivering software faster and efficiently, while also strengthening security and compliance.

GTLB 52-Week Range: $35.12 - $137

Gitlab shares are up 13.1% at $37.44 in after hours.

Photo: courtesy of GitLab.