Today’s Market Movers: Atlassian, Cloudflare, and Airbnb Lead Software Stocks Higher
TLDR
- Atlassian surged 30% after reporting 28% revenue growth and strong forward guidance
- Cloudflare jumped 16% after raising its full-year outlook on 36% revenue growth
- Twilio rose 16% after beating Q2 expectations with strong customer expansion
- Airbnb gained 8% after beating earnings and raising its full-year outlook
- The Trade Desk dropped 27% after missing Q2 revenue and earnings estimates
Software stocks led a broad market rebound on Friday, with earnings reports from several major tech companies driving big moves in both directions.
The gains came ahead of the July nonfarm payrolls report, which investors were watching closely for clues on where the Federal Reserve may take interest rates.
Atlassian Leads the Charge
Atlassian was the standout performer, with shares rising around 30%. The collaborative software company reported fiscal fourth-quarter revenue up 28% year over year.
Remaining performance obligations surged 44% to $4.82 billion, and subscription annual recurring revenue reached $6.6 billion, up 23%.
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