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Benzinga
Benzinga
Business
Adam Eckert

Why Bitcoin-Related Stock MicroStrategy Is Sliding After Hours

MicroStrategy Bitcoin MicroStrategy Inc MSTR Nasdaq

MicroStrategy Inc (NASDAQ:MSTR) shares are trading lower in Tuesday’s after-hours session after the company announced its first-quarter financial results. 

MicroStrategy said first-quarter revenue decreased 2.9% year-over-year to $119.3 million, which came in below the $127.22 million estimate, according to data from Benzinga Pro. The company reported an adjusted net loss of $117.62 million and an adjusted net loss per share of $(10.42), which was worse than the net loss of $(12.94) per share in the prior year’s quarter. GAAP net loss was $130.8 million or $(11.58) per share

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