Atlassian Corp (NASDAQ:TEAM) posted upbeat fiscal third-quarter results but issued weak sales guidance for the fourth quarter on Thursday.

Atlassian reported third-quarter revenue of $1.36 billion, beating analyst estimates of $1.35 billion. The collaboration and productivity software provider reported third-quarter adjusted earnings of 97 cents per share, beating analyst estimates of 87 cents per share.

"Our long-term investments in building a world-class Cloud platform have enabled us to advance the Atlassian System of Work and bring Rovo's powerful AI capabilities to the center," said Mike Cannon-Brookes, co-founder and CEO of Atlassian.

Atlassian said it expects fourth-quarter revenue to be in the range of $1.35 billion to $1.36 billion versus estimates of $1.42 billion. The company anticipates cloud revenue growth of 23% and data center growth of 16.5% on a year-over-year basis in the fourth quarter. Marketplace and other revenue is expected to be approximately flat.

Atlassian also guided for full-year 2025 revenue of $5.19 billion versus estimates of $5.18 billion, according to Benzinga Pro.

Atlassian shares fell 7.2% to trade at $212.42 on Friday.

These analysts made changes to their price targets on Atlassian following earnings announcement.

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