Stock Track | Atlassian Soars 17.45% After-Hours on Earnings and Revenue Beat, Strong Cloud Demand

Stock Track

May 01

Atlassian Corporation PLC's stock surged 17.45% in after-hours trading on Thursday, following the release of its quarterly financial results.

The significant price movement was driven by the company reporting third-quarter earnings and revenue that exceeded analyst expectations. Atlassian posted adjusted earnings per share of $1.75, beating the consensus estimate of $1.32. Revenue came in at $1.787 billion, surpassing the estimated $1.693 billion and representing a 32% year-over-year increase.

Strong demand for the company's cloud-based products was cited as a key factor, with cloud revenue rising 29% to $1.13 billion. Management also provided an outlook for the fourth quarter, with revenue guidance of $1.653 billion to $1.661 billion aligning closely with analyst expectations.

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