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Atlassian, Twilio, Five9 shares surge as AI boosts earnings

Business Insider·Robert Scammell·about 1 month ago
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What SaaSpocalypse? Atlassian, Twilio, and Five9 stocks soar as their AI moves deliver earnings beats Atlassian CEO Mike Cannon-Brookes. Bloomberg/Getty Images Atlassian, Twilio, and Five9 shares soar premarket as AI boosts their earnings. All three companies have previously been cited as victims of the so-called SaaSpocalypse. SaaS stocks have taken a hammering this year over fears AI will make some software obsolete. Reports of the death of SaaS may have been greatly exaggerated. Shares of software as a service companies Atlassian, Twilio, and Five9 soared in out-of-hours trading after reporting earnings beats on Thursday. Each of the companies cited AI as a reason for accelerating revenue — the very same technology that has pummelled their share prices this year over fears that companies could use AI to build the software they sell. Atlassian's share price was up as much as 25% in premarket trading on Friday morning, Twilio rose as much as 20%, and Five9 gained 16%.…

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