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 /zigman2/quotes/207177221/composite TEAM +6.43% 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.