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Enterprise collaboration solutions provider Atlassian (Nasdaq: TEAM) recently announced its first quarter results that surpassed market expectations. The company recently expanded its communication capabilities with the $975 million acquisition of Loom. Atlassian's Financials For the first quarter, revenues grew 21% to $977.8 million, soaring ahead of the market's forecast of $959 million. Adjusted EPS of $0.65 was also ahead of the market's forecast of $0.54. By segment, Subscription revenues grew 31% to $852 million and Maintenance revenues fell 30% to $78.6 million. Other revenues grew 10% to $47.2 million. For the second quarter, Atlassian expects revenues of $1.010-$1.030 billion, in line with the Street's estimate of $1.01 billion. Atlassian's $975M Loom Acquisition Recently, Atlassian announced its acquisition of San Francisco based-Loom for an estimated $975 million. Founded in September 2016 by Joe Thomas, Shahed Khan, and Vinay Hiremath, Loom is a wor

San franciscoUnited statesShahed khanJoe thomasKleiner perkinsVinay hiremathAndreessen horowitzAsdaq teamTechnology stocks