MicroStrategy stock down as firm reports significant Q1 earnings miss

Shares of MicroStrategy fell 3% in after-hours trading Monday after the company missed Wall Street’s expectations for the fiscal Q1 2024 earnings and revenue.

Since the end of the fourth quarter, MicroStrategy said it has purchased 25,250 bitcoins for $1.65 billion, averaging $65,232 per bitcoin. “As the world’s first Bitcoin Development Company, MicroStrategy is committed to the continued development of the bitcoin network through our activities in the financial markets, advocacy and technology innovation,” said Phong Le, President and CEO of MicroStrategy.

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MicroStrategy could see $3 billion earnings boost if it adopts new accounting rules: BenchmarkMicroStrategy could boost its earnings by over $3 billion if it chooses to adopt new accounting rules, according to Benchmark.
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Bitcoin Bull Michael Saylor Dumps 370,000 MicroStrategy Stocks During 80% Price RallyAmid MicroStrategy's 80% stock price surge in 2024, Bitcoin advocate Michael Saylor executes strategic move, selling 370,000 shares
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