Shares in Aussie software giant Atlassian have tumbled 16 per cent in after-market trading after it announced it had swung to a loss in its third quarter.
US investors have aggressively pushed down tech valuations as US investors worry that even Wall Street’s biggest stocks will struggle with rising interest rates and slowing economic growth. Earlier this week theDespite the share price fall, Atlassian’s earnings had actually contained plenty of positive news, and beaten analyst expectations across the board. The introduction of three new products so far this year helped drive revenue up to $US740.5 million from $US569.7 million.
Looking forward, Atlassian said fourth-quarter revenue will come in between $US710 million and $US725 million, with adjusted earnings of 24 cents a share. Atlassian has hired 791 people since the end of the second quarter last year, mainly in research and development, bringing the entire company to 8179 people.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HWL Ebsworth boss sued for underpaying super, profit sharesThe case against Juan Martinez could be a game changer for how law firms operate if the court finds salaried partners are actually employees.
Read more »
Meta shares soar as Facebook returns to user growthThe social network added more users than projected, potentially staving off concerns that it’s losing momentum as a new generation flocks to sites like TikTok.
Read more »
Beforepay shares jump on declining loss ratesThe fintech says it’s adding users and paring back losses on its long road to profitability.
Read more »
Amazon sees first loss since 2015 as shares tumble 10%Tech giant’s revenues grew at a sluggish 7% in the first quarter to $116.4bn as shoppers switch back to bricks and mortar
Read more »
ASX LIVE: Australian shares to open higher; Ramsay profits tank; ResMed revenues up; Apple beats, but Amazon, Intel disappoint; $A hits $US wall; oil, iron ore up.Australian shares to open higher; Ramsay profits tank; ResMed revenues up; Apple beats, but Amazon, Intel disappoint; UBS lifts Fortescue target; $A hits $US wall; oil, iron ore up.
Read more »
Amazon sees first loss since 2015 as shares tumble 10%Tech giant’s revenues grew at a sluggish 7% in the first quarter to $116.4bn as shoppers switch back to bricks and mortar
Read more »