Following Tuesday's market close, MicroStrategy, Inc. (NASDAQ:MSTR) released its financial results for the fourth quarter. The report is summarized here.
Benzinga Pro reports that MicroStrategy's fourth-quarter earnings fell short of the average projection of $132.9 million, coming in at $124.5 million, a 6.1% year-over-year decline.
Analysts had predicted 55 cents in quarterly adjusted earnings for the firm, so the $5.62 per share that was disclosed may not have been enough.
Quarterly sales from product licensing and subscription services fell by 11.4%. Other services sales dropped 7.5%, while product support revenue dropped 2.1%.
In the last quarter of the year, MicroStrategy earned almost $1.2 billion from its at-the-market solutions
At the conclusion of the quarter, the firm had cash and equivalents of $46.8 million.
"2023 was an extraordinary year for MicroStrategy as we strategically raised capital to significantly increase our bitcoin holdings and continued to innovate
including by developing and launching MicroStrategy AI, our first to market AI-based BI tool," said Phong Le, president and CEO of MicroStrategy.