Atlassian (US:TEAM) ZACKSยท2024-08-01 22:47Financial Performance - Atlassian reported quarterly earnings of $0.66 per share, exceeding the Zacks Consensus Estimate of $0.59 per share, and up from $0.57 per share a year ago, representing an earnings surprise of 11.86% [1] - The company posted revenues of $1.13 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.34%, and an increase from $939.1 million year-over-year [1] - Over the last four quarters, Atlassian has consistently surpassed consensus EPS and revenue estimates [1] Stock Performance - Atlassian shares have declined approximately 25.8% since the beginning of the year, contrasting with the S&P 500's gain of 15.8% [2] - The current Zacks Rank for Atlassian is 3 (Hold), indicating expected performance in line with the market in the near future [4] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.70 on revenues of $1.16 billion, and for the current fiscal year, it is $3.28 on revenues of $5.15 billion [4] - The estimate revisions trend for Atlassian is mixed, and future changes in estimates will be closely monitored following the recent earnings report [4] Industry Context - The Internet - Software industry, to which Atlassian belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [5] - Another company in the same industry, Bumble Inc., is expected to report quarterly earnings of $0.15 per share, reflecting a year-over-year increase of 200% [5][6]