Key Takeaways:
- MicroStrategy posted a Q2 net loss of $123 million but saw a 1% rise in after-hours trading.
- The firm acquired 12,222 Bitcoin in Q2, bringing its total holdings to 226,500 BTC valued at $14.7 billion.
- Q2 revenue fell 7% year-over-year to $111.4 million, with losses of $5.74 per share, but improved from a $137 million loss in Q2 2023.
MicroStrategy shares rose 1% in after-hours trading despite posting a Q2 net loss of $123 million.
The business intelligence firm acquired 12,222 Bitcoin for $805 million in Q2, totaling 226,500 BTC valued at $14.7 billion.
In July, @MicroStrategy acquired an additional 169 BTC for $11.4 million and now holds 226,500 BTC. Please join us at 5pm ET as we discuss our Q2 2024 financial results, the outlook for $BTC, and our #Bitcoin development strategy. $MSTRhttps://t.co/cfGPc42jfM
— Michael Saylor⚡️ (@saylor) August 1, 2024
Q2 revenue was $111.4 million, a 7% decline year-over-year, with losses of $5.74 per share exceeding analysts’ expectations.
However, this was a slight improvement from the $137 million loss in Q2 2023.
🚨 BREAKING: MICROSTRATEGY'S Q2 EARNINGS SHOW $14.7 BILLION IN BITCOIN HOLDINGS!
— JAKE (@JakeGagain) August 2, 2024
MicroStrategy acquired 12,222 Bitcoin for $805 million in Q2, bringing its total to 226,500 BTC. Despite a net loss of $123 million, shares rose 1%.
Revenue fell 7% to $111.4 million, missing… pic.twitter.com/hKeVsfc0sT
The company introduced a new KPI, “Bitcoin Yield,” at 12.2% year-to-date, targeting 4%-8% annually over the next three years.
A 10:1 stock split is set for August 7. MicroStrategy plans a $2 billion equity offering to raise additional capital.
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