MicroStrategy Reports Q1 Results, Company Holds 214,400 Bitcoins
Portfolio Pulse from Erica Kollmann
MicroStrategy Incorporated (NASDAQ:MSTR) reported Q1 financial results with non-GAAP losses of $8.26 per share and quarterly sales of $115.2 million, missing analyst estimates. The company holds 214,400 bitcoins with a carrying value of $5.074 billion and a market value of $15.220 billion. CFO Andrew Kang highlighted the company's commitment to Bitcoin development and the successful transition to a cloud-native platform.
April 29, 2024 | 8:22 pm
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MicroStrategy reported Q1 losses and missed sales estimates but holds a significant bitcoin portfolio with a market value of $15.220 billion.
The mixed Q1 results with significant losses and missed sales estimates could pressure MSTR's stock. However, the substantial value of its bitcoin holdings and the focus on Bitcoin development and cloud platform transition may mitigate negative impacts and provide a neutral outlook in the short term.
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