GitLab Sees Q4 Adj. EPS $0.08-$0.09 vs $(0.01) Est., Revenue $157M-$158M vs $150.24M Est.; Sees FY24 Adj. EPS $0.12-$0.13 vs $(0.06) Est., Revenue $573M-$574M vs $558.14M Est.
Portfolio Pulse from Bill Haddad
GitLab reported better-than-expected preliminary results for Q4, with adjusted EPS of $0.08-$0.09 versus an estimated $(0.01), and revenue of $157M-$158M against an estimated $150.24M. For FY24, the company forecasts adjusted EPS of $0.12-$0.13, surpassing the $(0.06) estimate, and revenue projections of $573M-$574M, which is above the $558.14M estimate.
December 04, 2023 | 9:08 pm
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POSITIVE IMPACT
GitLab's Q4 and FY24 financial forecasts exceed analyst estimates, indicating strong performance and positive future growth, which could lead to an increase in investor confidence and a potential rise in stock price.
GitLab's reported earnings and revenue for Q4 and the forecast for FY24 are significantly higher than analyst estimates, which typically results in a positive market reaction. The substantial beat on both the top and bottom lines suggests that the company is growing faster than expected, which could lead to increased investor confidence and a higher stock valuation in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100