Atlassian stock falls on outlook

Atlassian Corp. TEAM, +1.80% shares declined in the extended session Thursday after the enterprise cloud-software company’s results topped Wall Street estimates but its quarterly outlook did not. Atlassian shares declined 3.8% after hours, following a 1.8% gain in the regular session to close at $155.49. Atlassian expects fiscal fourth-quarter adjusted earnings of 17 cents to 22 cents a share on revenue of $400 million to $415 million, while analysts surveyed by FactSet had forecast 23 cents a share on revenue of $417.7 million. The company reported a fiscal third-quarter loss of $158.8 million, or 65 cents a share, compared with $202.8 million, or 85 cents a share, in the year-ago period. Adjusted earnings were 25 cents a share. Revenue rose to $411.6 million from $309.3 million in the year-ago quarter. Analysts had forecast earnings of 21 cents a share on revenue of $395.2 million.

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