MicroStrategy Q2 Earnings Highlights: Revenue Miss, EPS Beat, Updates On Bitcoin Holdings, Average Cost Per BTC
Portfolio Pulse from Chris Katje
MicroStrategy Inc reported Q2 revenue of $120.4 million, down 1% YoY, missing the Street consensus estimate of $126.3 million. However, it beat the earnings per share estimate with $2.35 against the expected 71 cents. The company also reported acquiring 12,800 Bitcoins since Q1, spending $361.4 million. The company now holds 152,800 Bitcoins, having spent a total of $4.53 billion. MicroStrategy shares are down slightly to $433.64 in after-hours trading.
August 04, 2023 | 10:31 am
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NEUTRAL IMPACT
MicroStrategy's Q2 revenue missed estimates but beat EPS expectations. The company also reported significant Bitcoin acquisitions.
The mixed Q2 results with a revenue miss but EPS beat could lead to neutral short-term impact on the stock. The significant increase in Bitcoin holdings could be seen as a positive by some investors but also adds risk due to the volatility of Bitcoin.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
MicroStrategy reported acquiring 12,800 Bitcoins since Q1, spending $361.4 million. The company now holds 152,800 Bitcoins.
MicroStrategy's continued acquisition of Bitcoin signals strong institutional support for the cryptocurrency, which could have a positive short-term impact on its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80