MicroStrategy Returns to Profitability With Bitcoin Rebound
- Company took impairment charge of about $1 billion a year ago
- Second-quarter revenue fell 1.4% and was below forecasts
This article is for subscribers only.
MicroStrategy Inc., the enterprise-software maker that is the largest publicly-traded holder of Bitcoin, returned to profitability in the second quarter after having to take a large writedown a year earlier because of a plunge in the value of the cryptocurrency.
The Tysons Corner, Virginia-based company had net income of $22.2 million, or $1.54 a share, compared with a loss of more than $1 billion, or $94 a share, in the year-ago period.