Strategy rises after beating Q2 earnings expectations
Cofounder Michael Saylor said on X earlier today that the upcoming earnings call will be “the most important event in the history of Strategy.”
Strategy, the largest corporate bitcoin holder, reported second-quarter earnings today that beat analysts’ estimates. Shares rose in after-hours trading.
Revenue from its legacy software business stood at $114.48 million, above analysts’ estimate of $113.5 million, according to FactSet. It reported diluted earnings per share of $32.6, way above expectations of $0.02.
Forward guidance was also quite optimistic, with diluted EPS of $80.
That said, the focus was on its bitcoin operations, which is the real business of the company. With its latest bitcoin acquisition earlier this week, Strategy now holds 628,791 bitcoin. Cofounder Michael Saylor said on X earlier today that the upcoming earnings call will be “the most important event in the history of Strategy.”
The company also announced a bitcoin yield of 19.7% in Q2 and 25% year to date, “meeting our full year target well ahead of our initial timeline,” Strategy CFO Andrew Kang said. The company also reported a $9.5 billion bitcoin gain in Q2 and a $13.2 billion bitcoin gain year to date.
“With Strategy’s BTC hoard, the message is clear: the bull case for bitcoin isn’t about hype, it’s about on-chain activity and institutional adoption. We’re entering a new cycle where bitcoin utility finally meets scale,” Willem Schroé, CEO of Botanix Labs, told Sherwood News.
