Atlassian Again Raises Annual Financial Targets Following Strong 2Q Results -- Earnings Review
January 23 2020 - 4:38PM
Dow Jones News
By Maria Armental
Atlassian Corp. reported second-quarter results on Thursday.
Here's what you need to know:
EARNINGS: Profit surged to $124.1 million, or 49 cents a share,
from a profit of $45.2 million, or 18 cents a share, a year
earlier. On an adjusted basis, profit rose to 37 cents a share from
25 cents a share a year earlier. The company had projected a loss
of about 3 cents a share, or a profit of 27 cents a share on an
adjusted basis. Analysts surveyed by FactSet expected a loss of 2
cents a share, or a profit of 27 cents a share on an adjusted
basis.
REVENUE: Total revenue rose to $408.7 million from $299 million
a year earlier. Atlassian had projected $386 million to $390
million, and analysts expected $389 million.
OUTLOOK: Atlassian again raised financial targets for the year,
saying it now expects about 48 cents to 54 cents a share in profit,
or $1.03 to $1.09 a share on an adjusted basis, and $1.59 billion
to $1.6 billion in revenue. It previously projected 1 cent a share
in profit, or $1 a share on an adjusted basis, and $1.56 billion to
$1.57 billion in revenue.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
January 23, 2020 16:23 ET (21:23 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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