April 30 (Reuters) – Atlassian raised its annual revenue forecast on Thursday, betting that its investments in artificial-intelligence features and a push into enterprise sales will drive growth and expand the use of its collaboration software. Shares of the company rose nearly 17% in extended trading. Atlassian has benefited from the steady migration of its […]
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Atlassian lifts annual revenue forecast as AI features, enterprise sales boost growth
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April 30 (Reuters) – Atlassian raised its annual revenue forecast on Thursday, betting that its investments in artificial-intelligence features and a push into enterprise sales will drive growth and expand the use of its collaboration software.
Shares of the company rose nearly 17% in extended trading.
Atlassian has benefited from the steady migration of its customers from on-premises servers to its cloud and data center solutions.
The company now expects total annual revenue growth at about 24%, up from its previous forecast of 22%.
Third-quarter revenue came in at $1.79 billion, beating analysts’ average estimate of $1.69 billion, according to data compiled by LSEG.
(Reporting by Anhata Rooprai in Bengaluru; Editing by Jonathan Ananda)