GTLB - GitLab declines sharply on heavy volume days after first earnings report

GitLab (NASDAQ:GTLB) shares are down almost 6% to $79.69 on heavier than normal volume, a couple of days after the open core provider posted its first results as a public company. More than 1.2 million shares had changed hands shortly after 10 a.m., compared to an average daily volume of just over 850,000. On Tuesday, GitLab (GTLB) said it lost an adjusted 34 cents per share during the third-quarter, 14 cents better than analysts' expectations. It generated $66.8 million in revenue, up 58.5% year-over-year. GitLab (GTLB) went public in October in an IPO that priced 10.4 million shares at $77 each.

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GitLab declines sharply on heavy volume days after first earnings report