04:33 PM EDT, 04/25/2024 (MT Newswires) -- Atlassian ( TEAM ) reported fiscal Q3 non-GAAP earnings late Thursday of $0.89 per diluted share, up from $0.54 a year earlier.

Analysts polled by Capital IQ expected $0.63.

Revenue for the quarter ended March 31 was $1.19 billion, up from $915.5 million a year earlier.

Analysts surveyed by Capital IQ expected $1.1 billion.

The company said it expects fiscal Q4 revenue between $1.12 billion and $1.135 billion.

Analysts polled by Capital IQ expect $1.11 billion.

The company also said Scott Farquhar is stepping down as co-CEO.

Farquhar's last day as co-CEO will be Aug. 31, the company said, adding he will continue to be a board member and will assume a special advisor role.

The company's shares were falling past 8% in after-hours trading.

Price: 182.50, Change: -15.91, Percent Change: -8.02