PANews May 2 news, according to The Block report, Strategy announced its first quarter financial report, with revenue and profit both falling short of expectations. The operating expenses for the first quarter reached $6 billion, an increase of over 1100% year-on-year. This is largely due to its investment of approximately $7.66 billion to purchase 80,715 bitcoins in the first quarter, resulting in an unrealized loss of $5.91 billion from its bitcoin holdings.
The net loss for the first quarter was $4.2 billion, equivalent to a diluted loss per share of $16.49. Analysts had expected a loss of $0.11 per share. The company's total revenue was $111.1 million, about 5% lower than market expectations and a decrease of 3.6% compared to the same period last year. Subscription service revenue grew by 61%, reaching $37.1 million. Strategy holds $60.3 million in cash and cash equivalents, and possesses 553,555 bitcoins, with a market value of approximately $5.2 billion, yielding a 13.7% return on bitcoin year-to-date. Additionally, Strategy announced a new round of $21 billion in common stock ATM financing plan.
