As an experienced financial analyst, I’m closely monitoring MicroStrategy (MSTR) following their first-quarter earnings report. The company reported a net operating loss of $53.1 million, or $3.09 per share, due to a digital asset impairment charge of $191.6 million. This comes as a surprise to some investors who had anticipated the adoption of the new fair value accounting standard, which could have resulted in a substantial profit given bitcoin’s first-quarter rally.
In the first quarter, MicroStrategy (MSTR) announced a net operating loss of $53.1 million, equivalent to $3.09 per share. This result was influenced by a significant digital asset impairment charge amounting to $191.6 million, as stated in a press release published on Monday afternoon.
The business revealed an increment of 122 tokens in April, amounting to its bitcoin hoard, now totaling 214,400 tokens. With bitcoin priced around $63,000 at present, this stockpile is estimated to be worth approximately $13.5 billion.
Shares are lower by 3.3% in after hours trading.
MicroStrategy will hold a conference call to discuss the results at 5 pm ET.
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2024-04-29 23:47