Here's our initial take on 's (NASDAQ: TEAM) financial report.

AAR = average annual return.

Atlassian topped expectations in its fiscal second quarter ending March 31, reporting revenue up 14% and earnings per share up 9% year over year, thanks to strong 25% growth in cloud revenue. The company's shift from stand-alone products to a cloud-based suite appears to be going according to script.

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Source Fool.com