Atlassian stock rises following hike in revenue outlook

Atlassian Corp. shares rallied in the extended session Tuesday after the business collaboration software company hiked its expected revenue range for the fiscal third quarter. Atlassian shares surged 4%, following a 5% gain in the regular session to close at $242.19. The company expects preliminary third-quarter revenue of $566 million to $572 million. Analysts surveyed by FactSet, on average, expect adjusted earnings of 22 cents a share on revenue of $487.2 million. Back in January, Atlassian had forecast adjusted earnings of 20 cents to 21 cents a share on revenue of $475 million to $490 million for the third quarter. The company is scheduled to report full earnings on April 29. Atlassian's co-founder and co-CEO Scott Farquhar said in a statement that the company is "publicly sharing strong preliminary revenue results for our third quarter which were driven by short-term dynamics related to our server and data center products."

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