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Stocks Fall As MicroStrategy Misses Q1 Earnings Expectations

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MicroStrategy

(CTN News) – MicroStrategy shares dropped 3% in after-hours trading on Monday after the company missed Wall Street’s revenue and earnings expectations for the fiscal Q1 2024 as it missed Wall Street’s expectations for the company.

A report has stated that the business intelligence company has posted a loss per share of $8.26, which is considerably higher than analysts expected from the company, who expected the company to have a loss per share of $0.58.

In addition, the revenue for the quarter was recorded as $115.25 million, which was also below the expected revenue of $121.72, which was also recorded.

In the four months since the end of the fourth quarter, MicroStrategy has purchased 25,250 bitcoins at a cost of $1.65 billion, an average of $65,232 per bitcoin.

According to a report published on April 26, 2024, a company reported that at the end of April, 2024, it had 214,400 bitcoins, which had been acquired at an average price of $35,180 per bitcoin as of that date, totaling 214,400 bitcoins.

MicroStrategy is committed to the continued development of the bitcoin network through its activities in the financial markets, advocacy and innovation of technology.

As the world’s first Bitcoin Development Company, MicroStrategy is committed to continuing to develop the bitcoin network through its activities in the financial markets, advocacy, and technology innovation.

As a result of our continued successful transition of our software business to a cloud-native platform, both our subscription services revenues and subscription billings have grown at double-digit growth rates during the first quarter.

It has been extremely pleasing to us to see our cloud platform gaining additional adoption around the world; it is one of the reasons for our success,” he added.

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Alishba Waris is an independent journalist working for CTN News. She brings a wealth of experience and a keen eye for detail to her reporting. With a knack for uncovering the truth, Waris isn't afraid to ask tough questions and hold those in power accountable. Her writing is clear, concise, and cuts through the noise, delivering the facts readers need to stay informed. Waris's dedication to ethical journalism shines through in her hard-hitting yet fair coverage of important issues.

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