Atlassian shares surge 23% on a strong set of results

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Atlassian reported an adjusted EPS of $0.57 on revenue of $939.1 million. Analysts were looking for a profit per share of $0.45 on revenue of $915.7M. Sales rose 24% year-over-year with subscription revenue jumping 34%.

For this quarter, the company sees revenue of $960M (up or down $10M), ahead of the consensus of $953.3M.

“Our continued investment in R&D has ensured we’re able to deliver innovation that takes advantage of the next generation of AI,” said Mike Cannon-Brookes, Atlassian’s co-founder and co-CEO.

“By leveraging the latest advancements in large language models, combined with each customer’s own data and two decades of our data-driven insights into how teams work, we’re able to help each of our customers unleash their potential.”