Atlassian closes at highest since 2022 after reporting better-than-expected earnings, revenue outlook.

Atlassian shares popped 14.9% after the software company blew past Wall Street’s fiscal second-quarter earnings and guidance expectations.

The stock hit a fresh 52-week high and closed at its highest level since April 2022. It was also the stock’s best day since November.

Adjusted earnings came in at 96 cents per share, ahead of the 76 cents per share projected by analysts polled by LSEG. Atlassian reported revenues of $1.29 billion, versus the $1.24 billion estimate.

For the third quarter, Atlassian said it anticipates $1.35 billion in revenue, above the $1.31 billion LSEG estimate and previous guidance.

Atlassian benefited from robust cloud and data center growth during the period as more customers turned to artificial intelligence solutions. That contributed to 30% subscription revenue growth over the prior year. Atlassian also said it now expects 26.5% cloud growth and 21.5% data center growth for the fiscal year.

Source: CNBC