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Atlassian Beats Quarterly Estimates on Strong Cloud Demand
- On Friday, Atlassian reported a June quarter net profit of $139 million, a significant reversal from last year's $24 million loss, sending shares surging and boosting CEO Mike Cannon-Brookes' net worth.
- Following a period known as the 'SaaSpocalypse,' where investors feared AI agents would replace human workers, Atlassian returned to profitability after laying off roughly 10 per cent of its workforce in March.
- Total fourth-quarter revenue rose 28 per cent to $1.77 billion, exceeding analyst forecasts, as Cannon-Brookes credited the success to Rovo, an AI agent now used by more than 80 per cent of the Fortune 500.
- To improve profitability, Atlassian shifted to cash-based bonuses for staff, protecting existing investors from share dilution and enabling the company to deliver an official full-year profit for the first time since 2016.
- Revenue growth is expected to slow to about 13 per cent in the 2027 financial year, though the company remains focused on durable profitable growth while scaling AI tools and building its new Sydney headquarters.
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Atlassian Soars 34%, Twilio Leaps 27%, Cloudflare Advances 9% in Software Stock Surge
Three software stocks are posting some of the biggest single-day gains in the sector this year, and the catalysts driving them higher suggest the rally could be just getting started.
·Lakewood, United States
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Coverage Details
Total News Sources21
Leaning Left5Leaning Right5Center5Last UpdatedBias Distribution34% Left, 33% Center, 33% Right
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
34% Left
L 34%
C 33%
R 33%
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