Atlassian shares soared on Friday, following news of its beating revenue and earnings expectations.
The enterprise software company had earnings of 25 cents per share in its second quarter, edging past analysts' expectations of 21 cents per share. Net income doubled from the prior year to touch $61.7 million. Sales were $299 million, greater than estimates of $288.3 million.
Atlassian’s subscription revenues increased +56%in the second quarter on a year-over-year basis, which was the fastest among its different revenue streams.