Atlassian Again Raises Annual Financial Targets Following Strong 2Q Results -- Earnings Review

   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)

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