Atlassian sinks despite better-than-expected results and in-line forecast
Publishing timestamp: 2023-11-02 20:47:48
Summary
Atlassian's fiscal first-quarter results exceeded expectations, with earnings per share of 65 cents and revenue of $977.8 million. However, the company's net loss widened and its growth slowed for the fifth consecutive quarter. Atlassian also provided guidance for the fiscal second quarter, calling for revenue between $1.01 billion and $1.03 billion. The company plans to end support for its Server products in February 2024 and is trying to move clients to its Cloud or Data Center product tiers. Atlassian's stock is up about 41% so far in 2023.
Sentiment: MIXED
Tickers: TEAM,
Keywords: technology, business news, breaking news: technology, atlassian corp, enterprise, earnings, breaking news: earnings, business,
Source: https://www.cnbc.com/2023/11/02/atlassian-team-q1-earnings-report-2024.html