From Nasdaq: 2024-04-30 19:06:21

MicroStrategy (NASDAQ: MSTR) saw its stock price drop by almost 18% after reporting Q1 earnings, coinciding with a decline in Bitcoin (CRYPTO: BTC) prices. Revenue was over $115 million, lower than Q1 2023. Non-GAAP net loss deepened to nearly $186 million. The company now holds 214,400 Bitcoin, adding 25,250 at an average of $65,232 during the quarter.

Despite being the largest corporate holder of Bitcoin, MicroStrategy’s stock saw a decline as the company reported weak Q1 results. Revenue fell to over $115 million, missing estimates. Non-GAAP net loss deepened to almost $186 million. The company holds 214,400 Bitcoin, adding 25,250 in the quarter at an average price of $65,232.

MicroStrategy’s Q1 earnings report led to an almost 18% drop in its stock price due to declining Bitcoin prices. The company’s revenue was over $115 million, lower than Q1 2023, and it reported a non-GAAP net loss of nearly $186 million. MicroStrategy now holds 214,400 Bitcoin, adding 25,250 in the quarter.

Read more at Nasdaq: Why MicroStrategy Stock Plummeted by Nearly 18% on Tuesday