Atlassian Corporation (TEAM) shares soared 19.57% in Thursday's after-hours trading session, following the company's impressive fiscal second-quarter 2025 results and an upbeat outlook.
The key details about the stock movement are as follows:
- Stock: Atlassian Corporation (TEAM)
- Movement Type: 24h Soar
- Movement Percentage: 19.57%
- Movement Time: 2025-01-30 20:09:54 (Thursday)
Here are the highlights that contributed to Atlassian's significant stock price surge:
For the second quarter of fiscal 2025, Atlassian reported a non-GAAP earnings per share of $0.96, beating analysts' estimates of $0.76. Revenue grew 21% year-over-year to $1.29 billion, surpassing the consensus estimate of $1.24 billion. The company's cloud revenue increased 30% year-over-year, driven by robust demand for its cloud products and 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.
Atlassian's co-founder and CEO, Mike Cannon-Brookes, attributed the company's success to its focus on infusing AI throughout its cloud platform, enabling teams to accelerate collaboration and unlock organizational knowledge. Additionally, the company saw a 15% year-over-year increase in the number of customers with over $10,000 in cloud annual recurring revenue (ARR), indicating strong enterprise adoption.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.