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Atlassian Stock Plunges as Business Software Company Issues Soft Guidance – Investopedia

Posted on August 22, 2024August 22, 2024 By business software expert

## Key Takeawinas Atlassian's current-quarter revenue guidance was below estimates and full-year growth is lower than last year.
The business software company's fiscal 2024 fourth-quarter adjusted EPS and revenue met expectations.
Atlassian announced the departure of Chief Sales Officer Kevin Egan to pursue new ventures.
  • The midpoint for Atlassian's current-quarter revenue missed projections.
  • Full-year growth guidance is below previous year's performance.
  • Fiscal 2024 fourth-quarter results were in line with analyst forecasts.
  • Kevin Egan, Chief Sales Officer, will depart the company to seek new opportunities.

Atlassian shares dropped significantly as disappointing guidance and executive departure impacted investor sentiment.

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