Atlassian shares are tumbling in Thursday's after-hours session on the heels of the company's fiscal third-quarter results. Here's a look at the highlights from the quarter.
IT project management software company, Atlassian (NASDAQ:TEAM) met Wall Street’s revenue expectations in Q1 CY2025, with sales up 14.1% year on year to $1.36 billion. The company expects next quarter’s revenue to be around $1.35 billion, close to analysts’ estimates. Its non-GAAP profit of $0.97 per share was 4.9% above analysts’ consensus estimates.
Wall Street braces for volatile Wednesday as U.S. GDP data shows unexpected economic contraction, raising fears of a recession. Pre-market futures down.
Shares of IT project management software company, Atlassian (NASDAQ:TEAM)
jumped 8.1% in the afternoon session after stocks extended their rebound, led by strong gains in the technology sector, as renewed optimism surrounding U.S.–China trade negotiations lifted investor sentiment.
Since October 2024, Atlassian has been in a holding pattern, posting a small return of 3.7% while floating around $200. However, the stock is beating the S&P 500’s 10.7% decline during that period.
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