Seeking Alpha
2021-07-29 20:19:48

MicroStrategy plans to deploy more capital into bitcoin, Q2 revenue beats estimate

MicroStrategy's (NASDAQ:MSTR) digital holdings exceeds 105K bitcoins and the company plans to "deploy additional capital into our digital asset strategy," the company said in its earnings release. The company also said it plans to search for a chief financial officer to allow Phong Le to focus on his role as president, running the day-to-day business of MicroStrategy. Q1 non-GAAP EPS of $1.72 increased from $0.60 in the year-ago quarter; on a GAAP basis, though, it recorded a loss per share of $30.71 vs. net income of $0.35 in the year-ago quarter. Q2 revenue of $125.4M, beating the average analyst estimate of $120.4M, rose 13% Y/Y, or 10% on a non-GAAP constant-currency basis. Production licenses and subscription services revenue increased 42% Y/Y to $32.5M. Product support revenue rose 1.4% to $71.0M. Other service revenue increased 23% to $21.8M As of June 30, 2021, the carrying value of MSTR's digital assets, comprised

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