Atlassian beats by $0.01, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY19 EPS above consensus, revs above consensus; Announces Strategic Partnership with Slack
- Reports Q4 (Jun) earnings of $0.13 per share, excluding non-recurring items, $0.01 better thanthe Capital IQ Consensus of $0.12; revenues rose 39.9% year/year to $243.8 mln vs the $233.42 mln Capital IQ Consensus.
- Co issues upside guidance for Q1, sees EPS of ~$0.19, excluding non-recurring items, vs. $0.15 Capital IQ Consensus Estimate; sees Q1 revs of $258-260 mln vs. $252.49 mln Capital IQ Consensus Estimate.
- Co issues upside guidance for FY19, sees EPS of ~$0.77, excluding non-recurring items, vs. $0.66 Capital IQ Consensus Estimate; sees FY19 revs of $1.146-1.154 bln vs. $1.11 bln Capital IQ Consensus Estimate.
- Announces Strategic Partnership with Slack- Financial terms not disclosed
- Co has entered into a strategic partnership with Slack. Atlassian currently has two offerings in the real-time communications market: Stride and Hipchat. With this partnership, Atlassian will exit the communications space. Slack has acquired the intellectual property for Stride and Hipchat Cloud, both of which will be discontinued. Atlassian will also discontinue Hipchat Server and Data Center and will be working with Slack to provide a migration path for customers of all four products. Atlassian products and Slack already work well together, and the companies will form an even closer relationship moving forward. The companies anticipate deepening their existing product integrations between Jira Cloud, Bitbucket Cloud, Trello, and Slack, and also expect to build new integrations between Confluence Cloud and Slack. The companies expect to also partner in the areas of marketing, sales, and channel enablement, and will provide more details on these plans in the future. Atlassian has also made an equity investment in Slack to reinforce the long-term nature and significance of the partnership
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