Atlassian (TEAM) Q1 earnings report 2024

Atlassian shares plummeted 9% in extended trading Thursday despite better-than-expected earnings and revenue from the software maker and a forecast that met Wall Street’s expectations.

Here’s how the company did, compared to the consensus among analysts surveyed by LSEG, formerly known as Refinitiv:

• Earnings per share: 65 cents, adjusted vs. 54 cents per share expected
• Revenue: $977.8 million vs. $966.1 million expected

Revenue in the quarter ending Sept. 30 increased 21% year over year from $807.4 million a year earlier, according to a statement. Growth slowed for the fifth consecutive quarter.

Atlassian’s net loss widened to $31.9…