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⚡ POCKET ALERT: Atlassian beats the quarter — then falls 17% after hours on what comes next Atlassian (TEAM) reported first-quarter fiscal 2027 results after the close on Thursday that beat expectations on almost every headline line — and the stock still fell sharply. The numbers: • Revenue rose 24% to $1.772 billion, vs about $1.71 billion expected • Adjusted earnings were $1.65 a share, vs $1.43 expected • Cloud revenue rose 31% to $1.302 billion; subscription annual recurring revenue rose 23% to $6.812 billion • Remaining performance obligations jumped 44% to $4.746 billion; free cash flow was $463 million • The company swung to GAAP net income of $91 million, from a $52 million loss a year earlier • Second-quarter revenue guidance of $1.825 billion to $1.835 billion was only slightly ahead of forecasts So why the fall? Growth in its Data Center business slowed to about 5%, and management flagged slower subscription growth ahead — in this market, a good quarter is not enough if the next one looks softer. MARKET IMPACT: Shares fell more than 17% in after-hours trading, extending a day when software and AI names led Wall Street's rout. WHY IT MATTERS: Atlassian's tools sit inside thousands of companies' daily work. Its outlook is a small window into corporate software budgets — and right now, investors are pricing those budgets as tightening, not expanding. 👀 WATCH: whether cloud growth holds near 27% in Q2 as guided, after Q1's 31%. Source: Atlassian Q1 fiscal 2027 results, via Business Wire; SiliconANGLE reporting.