GitLab (NASDAQ:GTLB) reported robust Q2 results that have exceeded expectations and subsequently raised its full-year outlook, causing its shares to surge by more than 4% intra-day today.

In terms of earnings per share, the company posted $0.01, outperforming the Street estimate by $0.04. Furthermore, GitLab’s quarterly revenue reached $139.6 million, surpassing the Street estimate of $129.8 million.

Looking forward to the third quarter of 2024, GitLab is projecting an EPS ranging from ($0.02) to ($0.01), compared to the Street estimate of ($0.04). Additionally, the company anticipates third-quarter revenue to fall between $140 million and $141 million, exceeding the Street estimate of $138.1 million.

For the fiscal year 2024, GitLab is forecasting a loss per share of 8 cents to 5 cents, which is notably better than the analysts’ anticipated loss per share of $0.14. Furthermore, the company expects full-year revenue to be within the range of $555 million to $557 million, surpassing the Street estimate of $542.8 million.

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