Atlassian Corporation - Class A Common Stock (TEAM)
308.66
+41.71 (15.62%)
Atlassian Corp is a software development company that specializes in collaborative tools and solutions for teams
Known for its flagship products like Jira, Confluence, and Trello, Atlassian provides platforms that facilitate project management, team collaboration, and agile development. The company’s offerings are designed to enhance productivity and streamline workflow for organizations of various sizes, enabling them to plan, track, and manage their projects more effectively. With a focus on fostering collaboration and communication, Atlassian serves a diverse clientele across multiple industries, empowering teams to work together seamlessly, regardless of location.
Shares of IT project management software company, Atlassian (NASDAQTEAM)
jumped 22% in the pre-market session after the company reported strong fourth-quarter (Q2 FY25) results, which reflected stabilization in the mid-market, improved enterprise execution, and continued adoption of its cloud platform. Fourth quarter results blew past analysts' estimates for key top-line metrics, including billings, and revenue. Notably, the company recorded a convincing beat in cloud revenue, which is a key focus of the market, and raised its FY25 Cloud growth forecast to approximately 26.5% (vs. previous guidance of 24%). Growth in the data center segment also exceeded Wall Street's expectations as the company observed more large deals and renewals. Adding to the good news was that revenue guidance for next quarter came in higher than Wall Street's estimates. Zooming out, we think this was a very solid quarter.
Wall Street is higher this afternoon and headed for its second consecutive winning week, as investors continue unpack this morning's inflation reading and more major corporate earnings.
CEO Mike Cannon-Brookes said the company has infused AI throughout its cloud platform, empowering all teams to accelerate collaboration and unlock organizational knowledge.
IT project management software company, Atlassian (NASDAQTEAM) reported Q4 CY2024 results topping the market’s revenue expectations, with sales up 21.4% year on year to $1.29 billion. Guidance for next quarter’s revenue was optimistic at $1.35 billion at the midpoint, 2.4% above analysts’ estimates. Its non-GAAP profit of $0.96 per share was 27.1% above analysts’ consensus estimates.
After the conclusion of the US market's regular session on Thursday, let's examine the after-hours session and unveil the notable performers among the top gainers and losers.
