Atlassian Shares Rise as Results, Outlook Beats Street View

Atlassian Corp. TEAM,
-0.85%
shares rose in the extended session Thursday after the company’s business collaboration software company’s results and outlook surpassed Wall Street’s consensus. Atlassian shares were up 9% after hours, after falling 0.9% in the regular session to close at $266.79. The company reported a fourth quarter tax loss of $213.1 million, or 85 cents per share, compared to a loss of $385.2 million or $1.56 per share for the same period a year ago. Adjusted earnings, excluding share-based compensation and other items, were 24 cents per share, compared to 25 cents per share in the same period a year ago. Revenue rose to $559.5 million from $430.5 million in the same quarter a year ago. Analysts polled by FactSet had forecast 18 cents a share on revenue of $471.6 million. Atlassian forecast adjusted earnings of 38 cents to 39 cents per share on revenue of $575 million to $590 million for the first quarter. Analysts had estimated 30 cents a share on revenue of $539.1 million.

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