Atlassian tumbles as earnings spook jittery market

US investors have aggressively pushed down tech valuations as US investors worry that even Wall Street’s biggest stocks will struggle with rising interest rates and slowing economic growth. Earlier this week theDespite the share price fall, Atlassian’s earnings had actually contained plenty of positive news, and beaten analyst expectations across the board. The introduction of three new products so far this year helped drive revenue up to $US740.5 million from $US569.7 million.

Looking forward, Atlassian said fourth-quarter revenue will come in between $US710 million and $US725 million, with adjusted earnings of 24 cents a share. Atlassian has hired 791 people since the end of the second quarter last year, mainly in research and development, bringing the entire company to 8179 people.

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Atlassian hasn't made a profit since 2016...

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Atlassian tumbles as earnings spook jittery marketShares in Aussie software giant Atlassian have tumbled 16 per cent in after-market trading after it announced it had swung to a loss in its third quarter. Are you sure it's the earnings or its because Atlassian was down for weeks? so much for a startup unicorn
Source: FinancialReview - 🏆 2. / 90 Read more »