Micro Strategy Inc. MSTR Shares fell in after-hours trading on Thursday after the company posted weak fourth-quarter results.
What happened: According to Benzinga Pro, MicroStrategy reported fourth-quarter revenue of $132.55 million, beating the average analyst estimate of $131.33 million.business intelligence and Bitcoin Bitcoin/USD The company reported a quarterly adjusted net loss of $20.51 per share, below estimates of a loss of 13 cents per share.
MicroStrategy said revenue was impacted by $197.6 million in digital asset impairment losses.
MicroStrategy ended the quarter with $43.8 million in cash and equivalents, down from $63.4 million in the year-ago quarter. The company said it increased its bitcoin holdings to 132,500 bitcoins during the quarter.
βIn 2022, MicroStrategy delivered total revenue growth on a constant currency basis in the fourth quarter and full year on the strength of our cloud business. in a row,” he said FondlePresident and CEO of MicroStrategy.
MicroStrategy is a business intelligence, mobile software, and cloud-based services company, but it bets on Bitcoin first and foremost. The company will discuss its fourth quarter results in a conference call beginning at 5:00 pm ET.
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MSTR Price Action: MicroStrategy has a 52-week high of $522.80 and a 52-week low of $132.56.
At the time of this article’s publication, the stock fell 3.13% after hours to $283, according to Benzinga Pro.
photograph: Ricardo Goncalves from.