GitLab shares popped more than 4% in extended trading Tuesday after the code hosting company posted an adjusted fiscal second-quarter profit when analysts called for a loss.
The company posted adjusted earnings of $0.01 per share, compared to the analyst consensus of a $0.03 per share loss. Revenue jumped 38% year-over-year to $139.6 million, compared to expectations of $129.8 million. GitLab’s own guidance, which the company reiterated in July, called for a loss between $0.03 and $0.02 per share on revenue between $129 million and $130 million.
Zscaler Inc. (NASDAQ:ZS) stock dipped 1% after the company announced that its fourth-quarter 2023 revenue rose 43% year-over-year to $455 million while it generated adjusted earnings per share (EPS) of $0.64, up from $0.25 during the same period last year.
The consensus analyst forecast for the cloud security company was for adjusted EPS of $0.49 on $431 million in revenue.
Asana shares declined 2% even after the company posted better-than-expected second quarter fiscal 2024 earnings and revealed an improved outlook for the full year after the closing bell on Tuesday.
For the quarter ended July 31, 2023, the work management tool reported revenue of $162.5 million, up 20% year-over-year and ahead of Asana’s revenue guidance range of $157.5 million to $158.5 million. It posted a loss per share of $0.04, down from a loss per share of $0.34 in the year-ago quarter but ahead of its guidance range of a loss per share between $0.12 and $0.11.
Meanwhile, Calgary based pipeline and energy giant Enbridge Inc (TSX:ENB) stock fell nearly 6% after the company announced a trio of acquisition deals with Dominion Energy that would make it the largest gas company by volume in North America.
Enbridge agreed to purchase East Ohio Gas Co, Questar Gas and Public Service Company of North Carolina for a combined price of $14 billion.
All told, Enbridge says the new additions would bring the companies’s total delivery to 9.3 billion cubic feet per day of gas to customers in the US and Canada.