Shares of Atlassian Corporation (TEAM) soared 19.29% in the pre-market trading session on Friday, following the company's impressive fiscal second-quarter 2025 results and an upbeat outlook driven by robust demand for its AI-powered cloud products.
The collaboration software provider reported a non-GAAP earnings per share of $0.96 for the quarter ended December 31, 2024, surpassing analysts' estimates of $0.76. Revenue grew 21% year-over-year to $1.29 billion, beating the consensus estimate of $1.24 billion. Atlassian's strong performance was fueled by its cloud revenue, which increased 30% year-over-year, driven by increasing adoption by enterprise customers.
Encouraged by the solid Q2 results, Atlassian raised its full-year revenue growth outlook to a range of 18.5%-19%, up from its previous guidance of around 18%. The company now expects cloud revenue growth of approximately 26.5% for fiscal 2025.
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