Trump/Cook, Nissan weakness, more tariffs and gold - what’s moving markets
Investing.com -- MicroStrategy Incorporated (NASDAQ:MSTR), the largest corporate holder of bitcoin, reported first-quarter results that fell short of analyst expectations while continuing to expand its bitcoin holdings.
The company posted a loss of $16.53 per share for the quarter ended March 31, significantly wider than the $0.11 loss per share analysts had forecast. Revenue came in at $111.1 million, down 3.6% YoY and below the consensus estimate of $117.08 million.
Despite the earnings miss, Microstrategy increased its bitcoin holdings to 553,555 as of April 28, representing a total cost of $37.90 billion or $68,459 per bitcoin. The company achieved a "BTC Yield" of 13.7% and a "BTC Gain" of 61,497 bitcoins year-to-date.
"We successfully executed our record $21 billion common stock ATM, adding 301,335 BTC to our balance sheet while simultaneously achieving a 50% increase in MSTR share price during the same period," said Phong Le, President and CEO.
The company also announced it is raising its 2025 "BTC Yield" target from 15% to 25% and its "BTC $ Gain" target from $10 billion to $15 billion.
Microstrategy’s stock was down 0.1% following the earnings release, suggesting investors were largely neutral on the mixed results and expanded bitcoin holdings.
CFO Andrew Kang noted that despite recognizing an unrealized loss in Q1 due to bitcoin’s price of $82,445 at quarter-end, the current price of around $97,300 would imply a fair value gain of roughly $8.0 billion so far in Q2.
The company continues to pursue its bitcoin-focused strategy, with over 70 public companies worldwide now adopting what Microstrategy calls a "Bitcoin treasury standard."