Micro Strategy Co., Ltd. (NASDAQ:MSTR) reported its fourth quarter financial results after the market closed on Tuesday. Here is a summary of the report:
Fourth quarter revenue: MicroStrategy announced fourth-quarter revenue of $124.5 million, down 6.1% year over year, below Benzinga Pro's consensus estimate of $132.9 million.
The company reported quarterly adjusted earnings per share of $5.62, which may not compare to the 55 cents expected by analysts.
Product licensing and subscription services revenue decreased 11.4% in the fourth quarter. Product support revenue decreased 2.1% and other services revenue decreased 7.5%.
MicroStrategy reported net revenue from over-the-counter sales of approximately $1.2 billion in the fourth quarter. The company ended the quarter with cash and equivalents of $46.8 million.
“2023 was a special year for MicroStrategy. We strategically raised capital to significantly increase our Bitcoin holdings and developed and launched MicroStrategy AI, bringing our first AI-based BI tool to market. “We continued to innovate,” he said. von lehPresident and CEO of MicroStrategy.
See more earnings at MSTR
Bitcoin holdings: MicroStrategy announces acquisition of 31,755 companies Bitcoin (CRYPTO: BTC) has averaged $39,411 per coin since the end of Q3.
As of February 5, the company held a total of 189,150 Bitcoins, with an average cost of $31,224 per coin.
Check this: Grayscale CEO Seeks Approval of Spot Bitcoin ETF Option: 'We'll See More Crypto ETFs in the Next 3-5 Years'
Management plans to hold a conference call regarding these results at 5:00 PM ET.
MSTR price action: MicroStrategy stock was down 0.62% in after-hours trading at $494.90 at the time of publication, according to Benzinga Pro.
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The article MicroStrategy Q4 Earnings: Earnings Mistakes, Bitcoin Strategy Updates, and More originally appeared on Benzinga.com
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