HomeInternational NewsAtlassian plummets more than 20% on weak earnings report and disappointing forecast

Atlassian plummets more than 20% on weak earnings report and disappointing forecast

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Atlassian shares fell as much as 22% on Thursday after the collaboration software maker reported lower earnings than analysts expected and issued a disappointing outlook.

Revenue increased 31% year over year in the quarter that ended Sept. 30, according to a statement.

Net loss narrowed to $13.7 million from $411.2 million one year ago, thanks to a mark-to-market accounting adjustment on strategic investments.

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