Atlassian (NASDAQ:TEAM) shares are moving higher on Friday after the company reported better-than-expected 2025 first-quarter earnings and issued second-quarter revenue guidance above estimates.

What To Know: Atlassian reported adjusted EPS of 77 cents, beating analyst estimates of 64 cents and sales of $1.18 billion, which beat analyst estimates of $1.15 billion.

For the 2025 second-quarter, the company expects revenue between $1.23 billion and $1.24 billion versus analyst estimates of $1.23 billion. For the 2025 fiscal year, the company anticipates revenue growth of 16.5% to 17%.

During the first quarter, the company's board authorized a new share repurchase program for up to $1.5 billion worth of common stock. This new repurchase program will start after the completion of the previously authorized $1.0 billion share repurchase program from January 2023.

Analyst Changes: Following the earnings report, multiple analysts issued price target adjustments.

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TEAM Price Action: As of Friday morning, Atlassian stock is trading 17.6% higher at $221.68, according to data from Benzinga Pro.

Image: Courtesy of Atlassian