From CNBC: 2025-01-31 08:58:04

Atlassian Corp. co-founder Mike Cannon-Brookes saw shares surge 20% in premarket trading after exceeding Q2 earnings and guidance expectations. Adjusted earnings were 96 cents per share, beating analyst estimates of 76 cents. Revenues of $1.29 billion also outperformed the $1.24 billion estimate. Q3 revenue is expected to reach $1.35 billion, exceeding initial guidance.

Atlassian’s strong performance was driven by robust cloud and data center growth, leading to a 30% increase in subscription revenue compared to the previous year. The company anticipates 26.5% cloud growth and 21.5% data center growth for the fiscal year. CFO Joe Binz highlighted strategic investments in enterprise customers, AI, and the System of Work for long-term growth.

Shares of Atlassian have risen nearly 10% year-to-date, reflecting the positive momentum and investor confidence in the company’s strategic direction and financial performance.



Read more at CNBC:: Atlassian pops 20% on better-than-expected earnings, revenue outlook