Atlassian reported third-quarter revenue of $1.79 billion. This total represents a 32% increase year-over-year. The results significantly exceeded analyst estimates of $1.69 billion.
Cloud revenue grew 29% to $1.13 billion during the quarter. Increased demand for AI-powered features and enterprise solutions fueled the performance.
The company raised its annual revenue growth forecast to approximately 24%. This updated guidance surpasses the previous estimate of 22%. Management cited continued customer migration to cloud and data center products as the primary driver.
Atlassian shares jumped nearly 17% in after-hours trading following the report.