Atlassian beats Q3 expectations with strong cloud growth, shares jump 28%.

Atlassian reported better-than-expected results for its fiscal third quarter, with earnings per share of $1.75 versus the $1.32 expected and revenue of $1.79 billion beating the $1.69 billion forecast. The company saw strong cloud revenue growth of 29% year-over-year, reaching $1.13 billion, and data center revenue also exceeded estimates at $561 million. Despite a tough year for software stocks amid AI-driven market fears, Atlassian's CEO Mike Cannon-Brookes emphasized the company's strong business performance and customer expansion. The company also raised its full-year guidance for cloud and data center revenue growth, signaling confidence in its strategic direction and AI investments.