Atlassian first records more than $1 billion in sales

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Atlassian, a provider of business software, has had a good second financial quarter of 2019. The company did better than expected and for the first time booked a calendar year in which it converted more than 1 billion dollars (878 million euros). Not only was the turnover last quarter higher than expected, it is also a new milestone for the company.

Yesterday, Atlassian reported its figures for the second financial quarter of 2019, which ended on 31 December 2018. The company, which develops software for collaborations and productivity, reported nice figures. Atlassian was able to write a turnover of $299 million on its books. That is 39 percent more than in the same quarter a year earlier and also more than the expected 288 million dollars. In addition, 25 cents per share was recorded, more than the 21 cents expected.

Financial stability

Usually, says chief analyst Charles King of Pund-IT Inc. versus SiliconANGLE, the $1 billion annual turnover milestone is seen as proof that a company was able to achieve financial stability. Last quarter was also the third consecutive quarter in which Atlassian saw its sales grow at an accelerated pace.

Atlassian CEO Scott Farquhar states that the quarter shows that there is increasing demand for Atlassian products to deploy the digital transformation in both large and small companies. In any case, the figures had a positive impact on the share price: shares rose by as much as ten percent in value after the announcement of the figures.

The company’s most widely used product remains Jira Software, which is used for flexible software development and project management. There are currently more than 65,000 customers of that platform. In addition, the company has a total of more than 138,000 customers, making it clear that there are great opportunities for Jira in our own customer base alone.

Next quarter, Atlassian hopes to achieve a turnover of between $303 and $305 million. It also predicts a profit of 18 cents per share. Analysts assume the same earnings per share and predict a turnover of 300 million dollars.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.