LONDON (IT BOLTWISE) – Strategy, the company with the largest Bitcoin holdings, has released its third-quarter financial results, beating Wall Street expectations. Earnings per share were $8.42 while revenue reached $128.7 million. These results were primarily aided by the company’s Bitcoin holdings, which recorded significant increases in value.
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Strategy, the company formerly known as MicroStrategy, recently reported its third-quarter financial results, beating Wall Street’s expectations. With earnings per share of $8.42 and sales of $128.7 million, the company significantly exceeded analyst estimates. These positive results are largely due to the company’s significant Bitcoin holdings, which have seen a significant increase in value.
The company currently holds approximately 640,808 Bitcoin, which has a total value of $70.9 billion at the current price of $107,500 per Bitcoin. The average purchase price per Bitcoin is $74,032, showing that strategy has benefited significantly from the cryptocurrency’s recent price increase. This development has not only increased the company’s revenue but also increased investor confidence.
Strategy has delivered a 26% Bitcoin return year to date and recorded a Bitcoin dollar gain of $12.9 billion. These numbers compare to annual targets of 30% returns and $20 billion in profits. The company also raised $20 billion through capital markets to fund further Bitcoin purchases, underscoring its strategic focus on cryptocurrencies.
Management has reiterated its fiscal 2025 guidance, which calls for operating income of $34 billion, net income of $24 billion and earnings of $80 per share. However, this forecast is based on the assumption that the Bitcoin price will rise to $150,000 by the end of the year. The price is currently at $107,500, showing that a significant increase is still needed to achieve these goals.
Strategie’s stock has a strong buy rating among analysts, based on 13 buy and one sell recommendations in the last three months. The average price target of $532.84 implies an upside potential of 107.02% from current price. However, these estimates could change after the publication of the latest financial figures.
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