MicroStrategy Posts Third-Quarter Loss After Revenue Decline
- Software maker took a $727,000 impairment change in quarter
- Bitcoin edged higher after tumbling in second quarter
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MicroStrategy Inc., the world’s largest publicly traded corporate owner of Bitcoin, posted a third-quarter loss after revenue fell despite the cryptocurrency reversing months of declines during the most recent three-month period.
The net loss for the quarter ended Sept. 30 was $27.1 million, or $2.39 a share, compared with $36.1 million, or $3.61, in the year-ago period, the company said in a statement. Co-founder Michael Saylor stepped down in August as chief executive officer to focus on the company’s cryptocurrency strategy.