Why Atlassian Stock Soared 10% on Friday

Shares of Australian workflow management system provider Atlassian (NASDAQ: TEAM) jumped in Friday trading, closing the day up 9.7% after the company crushed its fiscal second-quarter 2022 earnings report Thursday night.

Ahead of the report, analysts had forecast that Atlassian would earn $0.39 per share on sales of $641.3 million in the period, which ended Dec. 31. In fact, it earned $0.50 per share and did $688.5 million in sales, beating expectations on both the top and bottom lines.  

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Source Fool.com