TEAM Atlassian Corporation PLC

By Chris Wack

Atlassian Corp. Plc (TEAM) shares rose 9% to $144.50 premarket after the company reported earnings that beat analysts' expectations.

The software company reported second-quarter earnings of $124.1 million, or 49 cents a share, compared with $45.2 million, or 18 cents a share, in the same period a year ago. Analysts polled by FactSet were looking for a loss of $6 million, or two cents a share.

Revenue for the quarter came in at $408.7 million, compared with last year's $299 million and the $389 million analysts were expecting.

Atlassian said it had a strong quarter, with subscription revenue up 50% year-over-year.

The company forecast that revenue for the third quarter would be $395 million to $399 million, compared with the $398 million analysts are looking for. The company also said it is expecting fiscal 2020 revenue to be $1.59 billion to $1.6 billion, compared with the $1.595 billion analysts have forecast.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 24, 2020 06:47 ET (11:47 GMT)

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