Summary by Moomoo AI
On April 29, 2024, MicroStrategy Incorporated reported its financial results for the first quarter ending March 31, 2024. The company, recognized as the largest corporate holder of bitcoin and a leading independent business intelligence company, disclosed a decrease in total revenues to $115.2 million, down 5% from the previous year. Despite this, subscription services revenues increased by 22% year-over-year to $23.0 million. The quarter also saw the company acquire an additional 25,250 bitcoins, bringing its total holdings to 214,400 bitcoins, with an average purchase price of $35,180 per bitcoin. The company's aggressive investment in bitcoin was accompanied by significant impairment losses on digital assets amounting to $191.6 million for the quarter. MicroStrategy's net loss was reported at $53.1 million, or $3.09 per diluted share, a stark contrast to the net...Show More