Atlassian shares dropped over 16% in after-hours trading Thursday following the release of its fiscal third-quarter results. The company reported third-quarter revenue of $1.36 billion and adjusted earnings of 97 cents per share, both topping analyst estimates. Analysts had expected $1.35 billion in revenue and 87 cents in earnings. CEO Mike Cannon-Brookes said long-term investments in its Cloud platform have advanced the Atlassian System of Work and integrated Rovo’s AI capabilities at its core. Atlassian forecasted fourth-quarter revenue below estimates at $1.35 billion to $1.36 billion, with expected cloud growth of 23%, data center growth of 16.5%, and flat marketplace revenue.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Atlassian shares dropped over 16% in After Hours trading Thursday following the release of its
00:07fiscal third quarter results. The company reported third quarter revenue of $1.36 billion and adjusted
00:12earnings of $0.97 per share, both topping analyst estimates. Analysts had expected $1.35 billion
00:17in revenue and $0.87 in earnings. CEO Mike Cannon-Brooks said long-term investments in
00:23its cloud platform have advanced the Atlassian system of work and integrated Robo's AI capabilities
00:28at its core. Atlassian forecasted four-quarter growth, reigning below estimates of $1.35 billion
00:34to $1.36 billion, expecting cloud growth of 23%, data center growth of 16.5%, and flat
00:40marketplace revenue. For all things money, visit Benzinga.com slash GSTV.