Categories AlphaGraphs, Earnings, LATEST, Technology

Atlassian (TEAM) stock drops despite Q1 earnings beat

Business software maker Atlassian Corporation (NASDAQ: TEAM) reported first quarter 2020 earnings results that beat market’s expectations. Atlassian posted non-IFRS earnings of $0.28 per share on revenue of $363.4 million for the first quarter ended September 30, 2019. Analysts had projected the company to earn $0.24 per share on revenue of $351.8 million.

TEAM stock dropped about 4% in the after-hours session immediately after the earnings announcement.

On IFRS basis, Atlassian’s net income was $69.3 million or $0.28 per share for the first quarter of fiscal 2020 compared to a net loss of $242.4 million or $1.03 per share in the prior-year quarter.

Atlassian (TEAM) stock drops despite Q1 earnings beat; total customer count 159,787

The Sydney, Australian-based firm added 7,060 net new customers during the three months ended September 30, 2019, and ended the quarter with a total customer count, on an active subscription or maintenance agreement basis, of 159,787.

For the second quarter of fiscal year 2020, Atlassian views revenue to be between $386 million and $390 million. Net loss per share is expected to be approximately $0.03 on an IFRS basis, and net income per share is expected to be approximately $0.27 on a non-IFRS basis.

For fiscal year 2020, Atlassian forecast revenue to be in the range of $1.560 billion to $1.574 billion. Net income per share is expected to be approximately $0.01 on an IFRS basis and approximately $1.00 on a non-IFRS basis.

Also, Atlassian today announced that it acquired Code Barrel, the maker of Automation for Jira, for an undisclosed amount.

On an IFRS basis, operating expenses increased 38% to $305.7 million and 36% to $229.4 million in the first quarter of 2020. Total employee headcount was 3,927 at the end of 1Q20, an increase of 311 employees since the end of the fourth quarter of 2019. The increase was across all major organizations, with the majority in R&D.

Shares of the cloud-based software companies including ServiceNow (NYSE: NOW), Okta Inc (NASDAQ: OKTA), Splunk (NASDAQ: SPLK) and Atlassian traded in the negative territory after Workday (NASDAQ: WDAY) announced on Wednesday that its human capital management software is expected to end the year with a weaker-than-expected growth. The iShares Expanded Tech-Software Sector ETF was down 2.31% on Wednesday.

Atlassian stock, which closed down 1.32% at $122.64 today, surged 38% since the beginning of this year and 47% from this time last year.

We’re on Flipboard! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

Salesforce stock hit by weak guidance, co-CEO’s exit. What next?

For technology stocks, 2022 has been a challenging year, with companies losing significant market value amid prolonged stock selloff. In that respect, Salesforce, Inc. (NYSE: CRM) is among the worst-affected

Macy’s (M): Here’s a look at the retailer’s expectations for the near term

Shares of Macy’s Inc. (NYSE: M) were down on Thursday. The stock has gained 36% over the past three months and 18% over the past one month. The company’s sales

KR Earnings: Kroger Q3 sales, profit increase and top expectations

Department store chain The Kroger Co. (NYSE: KR) on Thursday said its third-quarter sales and adjusted earnings increased year-over-year. The latest numbers also exceeded the market's expectations. Net earnings attributable to

Comments

  1. Pingback: MINE FULL TRADER
  2. Pingback: la perruche
  3. Pingback: golden bullet
  4. Pingback: Glock 48
  5. Pingback: learn more
  6. Pingback: Krt carts
  7. Pingback: car recycling
  8. Pingback: CZ P01
  9. Pingback: ps5 sale
  10. Pingback: Food Delivery
  11. Pingback: kruideniertje
  12. Pingback: economics
  13. Pingback: Google
  14. Pingback: junk car removal
  15. Pingback: buy backlinks
  16. Pingback: Canada
  17. Pingback: Haupia strain
  18. Pingback: Watermelon haupia
  19. Pingback: Bubble hash
  20. Pingback: Moroccan hash
  21. Pingback: Litto disposable
  22. Pingback: Bubble hash
  23. Pingback: University kenya
  24. Pingback: bahis siteleri
  25. Pingback: 2overthrew
  26. Pingback: University of Embu
  27. Pingback: A片
  28. Pingback: must courses
  29. Pingback: MUT

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top