: GitLab shares fall nearly 3% after naming chief revenue officer, reiterating revenue guidance
Shares of GitLab Inc. GTLB tumbled nearly 3% in extended trading Tuesday after the AI company named former Microsoft Corp. MSFT executive Chris Weber as chief revenue officer and confirmed fiscal second-quarter and annual sales guidance. Weber was appointed to lead GitLab’s “next phase of growth,” the company said in a statement. GitLab expects Q2 revenue of between $129 million and $130 million when it reports results after markets close Sept. 5. The company is forecasting $541 million to $543 million in annual sales. Both estimates are in line with what analysts on FactSet are predicting.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.