Seeking Alpha
2022-08-02 21:19:24

MicroStrategy Q2 further weakens as bitcoin impairment loss more than doubles

MicroStrategy (NASDAQ:MSTR) Q2 net loss highlighted bitcoin (BTC-USD) impairment losses more than doubling over the year-ago period.Adjusted earnings loss of $94.01 per share at June 30 may not compare with the Wall Street consensus of -$0.85. That's way down from -$30.71 at June 30, 2021.Q2 revenue of $122.1M fell slightly below the average analyst estimate of $123.3M and decreased from $125.4M in Q2 of last year.Q2 operating expenses of over $1B soared from $516.6M in Q2 2021.Digital asset impairment losses were $1.09B in Q2, up from $618.9M a year ago.Gross profit slid to $96.9M in Q2 from $102.3M in Q2 2021.Digital assets held on its balance sheet totaled $1.99B at June 30 vs. $2.9B at December 31, 2021.Earlier, MicroStrategy founder Michael Saylor stepped down as CEO.

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