Atlassian (TEAM) Reports Q2 Earnings: What Key Metrics Have to Say

Core Insights - Atlassian reported $1.06 billion in revenue for the quarter ended December 2023, marking a year-over-year increase of 21.5% and an EPS of$ 0.73 compared to $0.45 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of$ 1.02 billion by 4.03%, and the EPS surpassed the consensus estimate of $0.62 by 17.74% [1] Revenue Breakdown - Subscription revenue reached$ 932.18 million, exceeding the nine-analyst average estimate of $889.23 million, with a year-over-year change of +31.1% [2] - Other revenues were reported at$ 58.83 million, slightly above the estimated $55.82 million, reflecting a +6% change year-over-year [2] - Maintenance revenue was$ 69.10 million, significantly higher than the average estimate of $58.07 million, but showed a year-over-year decline of -34.8% [2] - Marketplace and services revenue totaled$ 62.97 million, surpassing the average estimate of $58.35 million, with a +5.1% year-over-year change [2] - Server revenue was reported at$ 69.17 million, exceeding the estimated $53.94 million, but reflecting a -34.9% change compared to the previous year [2] - Cloud revenue reached$ 653.21 million, slightly above the estimated $648.02 million, with a +27.5% year-over-year increase [2] - Data Center revenue was$ 274.76 million, exceeding the average estimate of $259.48 million, representing a +41.4% year-over-year change [2] Stock Performance - Atlassian shares have returned +13.5% over the past month, outperforming the Zacks S&P 500 composite's +1.6% change, and the stock currently holds a Zacks Rank 2 (Buy) [3]