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MicroStrategy Inc (NASDAQ: MSTR) is pushing down in extended trading on Monday after coming in shy of Street estimates for its first financial quarter.
How many Bitcoin does $MSTR hold in total?
Shares are climbing also because the company based out of Virginia, United States spent $1.65 billion to acquire another 25,250 bitcoins in Q1.
It now owns a total of 214,400 BTC. Andrew Kang – the finance chief of MicroStrategy Inc said in a press release today:
We believe that the combination of our operating structure, bitcoin strategy, and focus on technology innovation provides a unique opportunity for value creation for our shareholders.
The Nasdaq-listed firm noted an annualised increase of 153% in its operating expenses to $289 million in its recently concluded quarter. MicroStrategy stock has nearly tripled since its year-to-date low in late January.
Watch here: https://www.youtube.com/embed/M7Nj9Kf13bk?feature=oembed
MicroStrategy Q1 earnings snapshot
- Lost $53.1 million that translates to $3.09 per share
- Had $461.2 million ($37.19 a share) in net income last year
- Revenue declined 5.0% year-over-year to $115.2 million
- Consensus was 13 cents a share loss on $121 million revenue
MicroStrategy saw subscription services revenue pop 22% versus the same quarter last year to $23 million, as per its earnings report. According to its CEO Phong Le:
Our subscription services revenue growth reflects continued successful transition of our software business to a cloud-native platform. We are pleased with continued global adoption of our cloud platform.
I've never met a well-informed #Bitcoin critic. pic.twitter.com/cfhmfDwhsr
— Michael Saylor⚡️ (@saylor) April 28, 2024
The post MicroStrategy bought 25,250 bitcoins in Q1: find out more appeared first on Invezz
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