Strategy reported a second-quarter loss, citing a "meaningful bitcoin price decline" and "muted bitcoin sentiment and market skepticism."
The bitcoin treasury company swung to a loss of $8.22 billion, or $24.45 a share, from a profit of $10.02 billion, or $32.60 a share, the year prior. Analysts polled by FactSet expected a loss of $2.19 a share.
Revenue rose to $122.4 million from $114.5 million. Wall Street expected $122.9 million.
The company said it grew its bitcoin holdings by 11% to 846,000 bitcoin and reduced its convertible debt by 18% to $6.7 billion.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments