#Atlassian #Stock #Jumps #Results #Outlook #Impress
Key takeaways
- Atlassian beat earnings and sales estimates and raised its forecasts as its artificial intelligence offerings helped boost subscriptions.
- The provider of software and services for developers and project managers announced a 33% jump in subscription revenue.
- Atlassian now expects full-year revenue growth of up to 17%, up slightly from previous forecasts.
Shares of Atlassian (TEAM) rose on Friday after the business software company reported better-than-expected quarterly results and raised its guidance as demand for artificial intelligence (AI) technology surges in subscriptions.
The company behind project tracking tool Jira reported first-quarter fiscal 2025 earnings per share of $0.77, with revenue jumping 21.5% to $1.19 billion. Both exceeded estimates. Subscription revenues increased by 33%.
Atlassian now expects full-year revenue growth of 16.5% to 17% and cloud revenue up 24%. This is higher than its previous forecast of a 16% revenue gain and a 23% rise in cloud revenue for the year.
CFO Joe Baines added that the company continues to focus its investments and execution “against our key strategic priorities of serving the enterprise, delivering AI innovations, and continuing to bring together the technology and business teams.”
Atlassian shares rose 16% on Friday, returning to multi-month highs, but they have still lost about 7% this year.
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#Atlassian #Stock #Jumps #Results #Outlook #Impress
