MicroStrategy’s stock price dropped after its Q3 earnings missed estimates, while an analyst forecasts more potential volatility after the US elections.
Shares in MicroStrategy dropped around 5.9% after the firm’s third-quarter earnings fell slightly short of consensus estimates, while an analyst warns the stock could be in for additional headwinds after the United States election.
According to an Oct. 30 report published by MicroStrategy, the firm reported $116.1 million in revenue, a 10.3% decline compared to Q3 2023, around 5.22% below analysts’ expectations.
It was also noted that during the quarter, the firm achieved a 5.1% return on its Bitcoin (BTC) holdings, alongside an overall gross profit of $81.7 million, representing a 70.4% gross margin.
