Why Atlassian Stock Soared Today

Shares of enterprise software company Atlassian (NASDAQ: TEAM) soared on Friday after the Australian outfit reported financial results for its fiscal first quarter of 2025. As of 10:30 a.m. ET, Atlassian stock was up about 15%, but it had been up as much as 22% earlier in the day.Atlassian's software remains popular, as evidence by ongoing customer acquisition and spending growth. In its Q1, the company generated revenue of nearly $1.2 billion, which was up 21% from the prior-year period and ahead of expectations. Moreover, its cloud revenue jumped 31% year over year, which is encouraging considering management has worked hard to get customers to adopt the cloud.The strength of Atlassian's Q1 was further underscored with management's guidance for the year. At the end of its fiscal 2024, management had expected full-year revenue growth of 16% for fiscal 2025, including 23% revenue growth for cloud. But after its Q1 results, it raised overall revenue expectations to 16.5% to 17% growth. And it also now expects 24% cloud revenue growth.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool