RTTNews | Dec 9, 2021 10:11AM EST

10:11 Thursday, December 9, 2021 (RTTNews.com) - Shares of software company GitLab Inc. (GTLB) are declining 5 percent on Thursday's trading continuing their downward trend since the past few days.

On Tuesday, the company posted its first results after becoming a public limited company. GitLab recorded third quarter 2022 net loss of $41.2 million or $0.62 per share, wider than net loss of $28.6 million or $0.57 per share in the year-ago quarter.

Excluding items, loss was $22.7 million or $0.34 per share in the third quarter, compared to loss of $22.3 million or $0.44 per share in the same period last year.

Quarterly revenues, however, rose 58 percent to $66.8 million from $44.2 million in the third quarter of 2021.

Currently at $79.53, the stock has traded between $75.35 and $137.00 during the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3248187/gitlab-shares-drops-5-continuing-downward-trend.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved