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April 13, 2021, 4:43 p.m. EDT

Atlassian stock rises following hike in revenue outlook

Atlassian Corp. (NAS:TEAM) shares rallied in the extended session Tuesday after the business collaboration software company hiked its expected revenue range for the fiscal third quarter. Atlassian shares surged 4%, following a 5% gain in the regular session to close at $242.19. The company expects preliminary third-quarter revenue of $566 million to $572 million. Analysts surveyed by FactSet, on average, expect adjusted earnings of 22 cents a share on revenue of $487.2 million. Back in January, Atlassian had forecast adjusted earnings of 20 cents to 21 cents a share on revenue of $475 million to $490 million for the third quarter. The company is scheduled to report full earnings on April 29. Atlassian's co-founder and co-CEO Scott Farquhar said in a statement that the company is "publicly sharing strong preliminary revenue results for our third quarter which were driven by short-term dynamics related to our server and data center products."

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