BUZZ-Atlassian plunges on tepid Q4 forecast

Reuters

05-02

BUZZ-Atlassian plunges on tepid Q4 forecast

** Shares of enterprise software developer Atlassian TEAM.O drop 15% to $194.70 after hours

** TEAM forecasts fourth-quarter revenue below estimates as enterprise customers cut spending on cloud software services in a tough economy

** Co expects revenue in the range of $1.35 billion to $1.36 billion for Q4 vs estimates of $1.36 billion — LSEG

** Revenue for three months ended March 31 stood at $1.36 billion vs estimates of $1.35 billion.

** Co posted third-quarter net loss of 27 cents per share, compared with a profit of 5 cents per share a year ago

** TEAM down ~5.9% YTD

(Reporting by Arsheeya Bajwa in Bengaluru)

((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))

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