Advertisement
Singapore markets closed

  • Straits Times Index

    3,303.19
    +10.26 (+0.31%)
     

  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     

  • Dow

    38,675.68
    +449.98 (+1.18%)
     

  • Nasdaq

    16,156.33
    +315.33 (+1.99%)
     

  • Bitcoin USD

    64,168.52
    +399.78 (+0.63%)
     

  • CMC Crypto 200

    1,385.29
    +72.66 (+5.54%)
     

  • FTSE 100

    8,213.49
    +41.34 (+0.51%)
     

  • Gold

    2,325.80
    +17.20 (+0.75%)
     

  • Crude Oil

    78.84
    +0.73 (+0.93%)
     

  • 10-Yr Bond

    4.5000
    -0.0710 (-1.55%)
     

  • Nikkei

    38,236.07
    -38.03 (-0.10%)
     

  • Hang Seng

    18,578.30
    +102.38 (+0.55%)
     

  • FTSE Bursa Malaysia

    1,597.39
    +7.80 (+0.49%)
     

  • Jakarta Composite Index

    7,135.89
    +1.17 (+0.02%)
     

  • PSE Index

    6,652.49
    +36.94 (+0.56%)
     

Here's What Key Metrics Tell Us About Atlassian (TEAM) Q3 Earnings

Zacks Equity Research
·2-min read

For the quarter ended March 2024, Atlassian (TEAM) reported revenue of $1.19 billion, up 29.9% over the same period last year. EPS came in at $0.89, compared to $0.54 in the year-ago quarter.

The reported revenue represents a surprise of +8.49% over the Zacks Consensus Estimate of $1.1 billion. With the consensus EPS estimate being $0.61, the EPS surprise was +45.90%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

ADVERTISEMENT

Here is how Atlassian performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Customers: 300,000 compared to the 306,753 average estimate based on three analysts.

  • Revenues- Subscription: $1.07 billion versus the nine-analyst average estimate of $1 billion. The reported number represents a year-over-year change of +40.8%.

  • Revenues- Maintenance: $29.53 million versus the nine-analyst average estimate of $33.18 million. The reported number represents a year-over-year change of -68.7%.

  • Revenues- Other: $88.24 million versus $62.65 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +45.7% change.

  • Revenues- Cloud: $703.04 million versus $694.84 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +31.4% change.

  • Revenues- Data Center: $364.13 million versus $296.55 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +64.4% change.

  • Revenues- Server: $29.72 million versus the five-analyst average estimate of $30.78 million. The reported number represents a year-over-year change of -68.5%.

  • Revenues- Marketplace and other: $92.24 million versus the five-analyst average estimate of $66.54 million. The reported number represents a year-over-year change of +42.7%.

View all Key Company Metrics for Atlassian here>>>

Shares of Atlassian have returned +3% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Atlassian Corporation PLC (TEAM) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research