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Why Atlassian Stock Plunged Today

Why Atlassian Stock Plunged Today

Shares of enterprise-software company Atlassian (NASDAQ: TEAM) plunged on Friday morning after it reported financial results for the second quarter of its fiscal 2023. In Q2, Atlassian generated revenue of nearly $873 million, up almost 27% year over year. Atlassian was able to add more than 4,000 net new customers during Q2, which is encouraging.