Atlassian Q4 Earnings: Revenue Beat, EPS Beat, Shares Slide On Soft Guidance
Portfolio Pulse from Adam Eckert
Atlassian Corp (NASDAQ:TEAM) reported Q4 earnings with revenue and EPS beating estimates, but shares fell due to soft guidance. Revenue was $1.31 billion and EPS was 66 cents. The company expects Q1 revenue below estimates and FY25 revenue growth of 16%. The chief sales officer exited, and the company plans to hire a new chief revenue officer.
August 01, 2024 | 9:38 pm
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Atlassian Corp (NASDAQ:TEAM) reported Q4 earnings with revenue and EPS beating estimates, but shares fell 11.1% after hours due to soft guidance. The company expects Q1 revenue below estimates and FY25 revenue growth of 16%. The chief sales officer exited, and the company plans to hire a new chief revenue officer.
Despite beating Q4 revenue and EPS estimates, Atlassian's shares fell due to lower-than-expected Q1 revenue guidance and the exit of the chief sales officer. The market reacted negatively to the soft guidance and leadership change, indicating a short-term negative impact on the stock price.
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