Shares of GitLab (NASDAQ: GTLB) were rocketing higher today after the development, security, and operations (DevSecOps) software platform posted better-than-expected results in its first-quarter earnings report last night.

As of 12:19 p.m. ET, the stock was up 31.4%.

GitLab, which provides cloud-based software that helps companies develop and deploy software, said that revenue in the quarter jumped 45% to $126.9 million, beating estimates at $117.8 million.

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Source Fool.com