By Denny Jacob
Atlassian Corp. Plc shares fell 5.8% to $245 after hours Thursday after the company swung to a loss in the third quarter.
The workplace software company swung to a loss of $31.1 million, or a loss of 12 cents a share, for the quarter ended March 31, compared to a profit of $159.8 million, or 63 cents a share, in the year-ago period. Adjusted earnings were 47 cents a share. Analysts polled by FactSet expected 32 cents.
Revenue rose to $740.5 million from $568.7 million. Analysts polled by FactSet expected $700.7 million.
Atlassian guided for fourth-quarter revenue in the range of $710 million to $725 million, as well as adjusted earnings of 24 cents a share. Analysts polled by FactSet expect $689 million in revenue and adjusted earnings of 30 cents a share in the fourth quarter.
The company also said Rajeev Rajan will join as its new chief technology officer in May 2022.
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(END) Dow Jones Newswires