Atlassian (TEAM) Stock Surges 33% After Q4 Revenue Beats and CEO Buys the Dip
TLDR
- TEAM stock surged 33% after hours following a strong Q4 earnings report, reaching $144.52
- Revenue jumped 28% year-over-year to $1.38 billion, beating Wall Street estimates
- Annual revenue hit $6.5 billion, up 26%, with Q1 guidance above analyst expectations
- CEO announced plans to buy $250 million worth of stock on the open market
- Management said AI is strengthening its platform, not threatening it
Atlassian stock surged 33% in extended trading after the company reported Q4 results that beat Wall Street expectations across the board. TEAM hit $144.52 following the report, its highest level since January, and is now up 157% from its April low of $55.97.
Revenue for the quarter came in at $1.38 billion, a 28% increase year-over-year. That topped analyst estimates and calmed fears that had weighed on the stock for months. Operating income flipped from a loss of $28 million a year ago to a gain of $211 million. Net profit came in at $139 million.
For the full fiscal year, Atlassian posted $6.5 billion in revenue, up 26%.
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