Business
‘Hard yakka’ as Atlassian’s profit takes a hit – Sydney Morning Herald
Australian software giant’s shares slump on the Nasdaq after it flagged slower revenue through the remainder of financial year.
Australian software giant Atlassian has seen its profits dip for the fiscal first quarter, weighed down by the company’s ongoing push to move customers to the cloud and measures taken to contain the COVID-19 pandemic.
The Nasdaq-listed company posted a loss of $US21.6 million ($30.71 million) for the quarter ended September 30, compared with net income of $US69.3 million ($98.46 million) for the same period in fiscal 2020.
Atlassian co-chief executives Scott Farquhar (foreground) and Mike Cannon-Brookes…
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