GitLab Q2 beats, stock jumps 16% as AI drives DevSecOps demand

TREE NEWS update: GitLab (NASDAQ: GTLB) shares surged over 16% in after-hours trading after reporting fiscal Q2 revenue of $286.3 million, up 21.3% year-over-year and beating consensus of $273.1 million. Adjusted EPS of $0.24 topped estimates of $0.18, and the company raised its full-year revenue guidance to $1.131 billion. Record gross bookings and a rebound in net revenue retention to 117% eased fears that AI coding tools would erode demand for DevSecOps platforms.