News Formal

Wipeout: Atlassian shares plummet on earnings miss

  • 📰 smh
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 80%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Atlassian shares plunged in after-hours trade on the Nasdaq on Friday, wiping billions from the wealth of its founding duo, Mike Cannon-Brookes and Scott Farquhar | nickbonyhady

and Farquhar together held about 43 per cent of the workplace collaboration software company's shares earlier this year.

Analysts had expected the company to add about 8000 new customers over the quarter but it missed that estimate by about 18 per cent. Fewer users of the company’s free accounts were choosing to start paying and organisations who already pay were adding new staff accounts at a slower rate, Cannon-Brookes and Farquhar said in their letter.

The US-listed Atlassian reported total revenue of $US807.4 million for the first quarter of the 2023 financial year, up 31 per cent from $US614 million for the first quarter of the 2022 financial year.heavily promoted its drive to hire 1032 new staffNew chief financial officer Joe Binz said in an earnings call that the company would reduce planned hiring this year and cut discretionary spending.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

nickbonyhady Like, how old is that picture of the dudes? At least 10 years!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in AU

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wipeout: Atlassian shares plummet on earnings missAtlassian shares have plunged more than 22 per cent in after-hours Wall Street trade, wiping billions from the wealth of its founding duo, Mike Cannon-Brookes and Scott Farquhar.
Source: brisbanetimes - 🏆 13. / 67 Read more »

Wipeout: Atlassian shares plummet on earnings missAtlassian shares have plunged more than 22 per cent in after-hours Wall Street trade, wiping billions from the wealth of its founding duo, Mike Cannon-Brookes and Scott Farquhar. nickbonyhady The Greens will need to review their policies , given the funding always comes from the Billionaires!auspol
Source: theage - 🏆 8. / 77 Read more »

Investment bankers gear for weakest bonus pool in yearsANALYSIS: Wall Street deal makers reckon it’s been the “worst year” in decades and expect bonuses to be significantly down from 2021.
Source: FinancialReview - 🏆 2. / 90 Read more »