Aug 6 (Reuters) – Collaboration software maker Atlassian beat Wall Street expectations for fourth-quarter revenue on Thursday, riding on strong demand for its enterprise software services and cloud-based products.
Here are some details:
• Shares of the company were up 35.2% in extended trading.
• Atlassian, whose software tools such as Jira Service Management and Rovo help clients manage teams, track work and analyze data, has benefitted from more companies incorporating machine learning and automating tasks.
• It now forecasts total annual revenue growth of about 13%, compared with its previous outlook of 24%.
• The company expects first-quarter revenue between $1.71 billion and $1.72 billion, above analysts’ average estimate of $1.66 billion, according to data compiled by LSEG.
• Revenue for the fourth quarter ended June 30 came in at $1.77 billion, beating analysts’ average estimate of $1.66 billion.
• The company reported an adjusted quarterly profit per share of $1.87, compared with estimates of $1.50 per share.
• In March, Atlassian announced 10% job cuts, affecting about 1,600 employees, as part of its push into AI and enterprise sales.
(Reporting by Arunesh Sinha; Editing by Diti Pujara)
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