Shares of Atlassian Corp. TEAM, -2.48% staggered 14% in extended trading Thursday after the software company reported quarterly results.
Atlassian posted a fiscal first-quarter net loss of $31.9 million, or 12 cents a share, compared with a net loss of $13.7 million, or 5 cents a share, in the year-ago quarter. Adjusted earnings were 65 cents a share. Revenue was $977.8 million, compared with $807.4 million a year ago. Analysts surveyed by FactSet had expected on average net earnings of 53 cents a share on revenue of $966 million. Shares of Atlassian have ascended 41% this year, while the broader S&P 500 index SPX, +0.94% has increased 12%.