Atlassian stock decreases as the outlook for earnings falls below Street View

Atlassian Corp Team,
+ 0.29%
Shares fell in the extended session on Thursday after the enterprise cloud-software company’s earnings outlook fell short of Wall Street expectations, while quarterly results projected. Atlassian shares declined 8% to close at $ 187.66, up 0.3% in the regular session. Atlassian said it expected adjusted income of 26 cents to 27 cents a share on revenues of $ 430 million to $ 445 million. Analysts polled by FactSet expect earnings of 29 cents on revenue of $ 438.9 million. The company reported a financial loss of $ 385.2 million, or $ 1.56 per share, in the year-ago period, with $ 237.5 million, or 99 cents per share. Adjusted earnings, which exclude items such as share-based compensation, were 25 cents a share, with a 20-cent stake in the year-ago period. Revenue increased to $ 430.5 million from $ 334.6 million in the year-ago quarter. Analysts had estimated earnings of 21 cents on revenue of $ 410.7 million. Atlassian also announced the acquisition of Mindville, the Swedish property and configuration management company, for an undisclosed sum.


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