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Atlassian profit misses consensus by 70.3% in fiscal Q2

Atlassian Corporation PLC said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 1 cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS declined 12.7% year over year from 1 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.0 million, compared with $2.0 million in the year-earlier period.

The normalized profit margin declined to 1.9% from 2.7% in the year-earlier period.

Total revenue increased 44.7% year over year to $109.7 million from $75.8 million, and total operating expenses rose 48.3% from the prior-year period to $106.3 million from $71.7 million.

Reported net income rose 6.5% year over year to $4.5 million, or 3 cents per share, from $4.2 million, or 3 cents per share.