Atlassian Stock Surges 35% as Cloud Growth and AI Products Accelerate

Atlassian's stock surged 35% following strong fiscal 2026 Q4 earnings that exceeded analyst expectations. The Australian software company achieved $1.87 in adjusted earnings per share on $1.766 billion in revenue, with cloud revenue growing 31% to $1.213 billion and data center revenue rising 21% to $461.9 million. Driving momentum was accelerating adoption of Rovo, its AI assistant, now used by over 80% of Fortune 500 companies, alongside a 400% quarter-over-quarter jump in Model Context Protocol calls as enterprises deepen their platform commitment. The company recorded its highest-ever number of million-dollar annual contract value deals and guided above forecasts for fiscal 2027.