Aussie tech giant Atla ssian takes a stock hit after reporting a $47 3 million write off thanks

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Aussie tech giant Atla.ssian takes a stock hit after reporting a $47.3 million write-off thanks to Trump's tax plan. (TEAM).


The new tax law was designed to help corporations. But Atlassian's bottom line and stock price took hits on Thursday because of it.

The Australian software giant, which makes Jira and HipChat, announced a $65 million loss for its most recent quarter thanks in part to a one-time charge related to the tax rate changes in the new law. The loss amounted to 28 cents a share, compared to a penny a share loss in the same period a year earlier.

The company's stock was down nearly 5% in afterhours trading on the news.



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Aussie
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Atla.ssian
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stock
hit
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$47.3
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Aussie tech giant Atla.ssian takes a stock hit after reporting a $47.3 million write-off thanks