Bulletin
Investor Alert

New York Markets Open in:

Earnings Results

Jan. 27, 2022, 5:57 p.m. EST

Atlassian stock rallies on earnings beat

By Wallace Witkowski

Atlassian Corp. shares surged in the extended session Thursday after the business collaboration software company’s quarterly results topped Wall Street consensus.

Atlassian (NAS:TEAM) shares rallied 10% after hours, following a 0.7% decline in the regular session to close at $290.89.

The company reported a fiscal second-quarter loss of $77.5 million, or 31 cents a share, compared with a loss of $621.5 million, or $2.49 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 50 cents a share, compared with 37 cents a share in the year-ago period.

Revenue rose to $688.5 million from $501.4 million in the year-ago quarter.

Analysts surveyed by FactSet had forecast adjusted earnings of 39 cents a share on revenue of $641.3 million.

Atlassian forecast adjusted earnings of 29 cents to 31 cents a share on revenue of $690 million to $705 million for the third quarter. Analysts had estimated 41 cents a share on revenue of $663.4 million.

The company also said it acquired AI-powered virtual agent company Percept.ai for an undisclosed amount.

Link to MarketWatch's Slice.