Latest news with #Strategy
CNA
17 minutes ago
- Business
- CNA
Saylor's Strategy swings to quarterly profit as treasury strategy gains momentum
Strategy reported its first profit in six quarters on Thursday, as the biggest corporate holder of bitcoin benefited from a remarkable quarter for cryptocurrencies. In a watershed moment of legitimacy for the crypto industry, U.S. President Donald Trump signed the GENIUS Act into law earlier this month. Industry anticipation leading up to the moment helped rally bitcoin — the largest cryptocurrency — past $120,000 for the first time as investors cheered Washington's long-awaited approval on digital assets. Strategy held 597,325 bitcoins as of June 30, at an average cost of $70,982. Bitcoin currently trades around $116,600. It recorded a $14 billion unrealized fair value gain on digital assets during the quarter that saw corporations ranging from major U.S. banks to payment firms embrace crypto. Until the fourth quarter of 2024, the company could only record losses when bitcoin's value fell below its purchase price, but could not recognize price increases unless it sold bitcoin. The company's net profit was $9.97 billion, or $32.60 per share, for the three months ended June 30, compared with a loss of $102.6 million, or 57 cents per share, a year earlier. Strategy began buying bitcoin with cash in 2020 and then started issuing low-cost convertible bonds and stock sales to finance its accumulation drive. Its shares are up nearly 39 per cent this year, eclipsing bitcoin's 25 per cent climb, a phenomenon that has now inspired several public companies to pivot their operations and mimic founder and executive chairman Michael Saylor's buy-and-hold treasury approach. "We're in a hyper-growth, hyper-adoption phase for bitcoin as a treasury reserve asset," said Saylor on a post-earnings call. A few among these companies are now also pivoting to smaller tokens like ether, often listing via mergers with blank-check vehicles to wrap crypto assets into equity.
Yahoo
an hour ago
- Business
- Yahoo
Coinbase, Reddit, Strategy: After-hours earnings movers
Here are some of the stocks moving in after-hours trading. Coinbase (COIN) shares are falling after reporting Q2 revenue that fell short of estimates. Shares of Reddit (RDDT) are surging after posting second quarter results that topped expectations and issuing better-than-expected Q3 guidance. Strategy (MSTR) posted second quarter revenue that topped estimates, but its cash and cash equivalents fell short. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend. Take a look now at what's trending after hours. Shares of Coinbase fallen after hours. Company reporting second quarter earnings and missing analyst estimates on some key metrics. Total revenue coming in lower. Coinbase reporting a total revenue of $1.5 billion. That was versus an analyst estimate of $1.59 billion. Trading volume also coming in weak for Q2. That came in at $237 billion against estimates of $252.8 billion. Subscription and services revenue that also came in weak at $665 million versus analyst estimates of $745 million. Reddit shares, meanwhile, they are surging after reporting second quarter results. Company topped expectations for revenue and daily active users. Also beating estimates, rising 21% year-over-year. Looking ahead, Reddit providing a better than expected revenue and adjusted EBITDA outlook for the third quarter. And Strategy, reporting a beat on revenue for the second quarter. Overall capital raising activities have resulted in its Bitcoin per share increasing to 25% year to date. The Bitcoin treasury company also lifting its full year BTC yield target to 30% from 25%. Related Videos Big Tech earnings surprise, jobs report focus: Market takeaways F5 CEO breaks down big Q3 earnings beat Why this analyst gives Amazon's earnings report a B+ Apple Shares Attractive After Sales Beat: Neuberger's Flax Sign in to access your portfolio
Economic Times
an hour ago
- Business
- Economic Times
Cryptocurrency Live News & Updates : Coinbase Shares Drop 7% Following Q2 Earnings Miss
01 Aug 2025 | 03:20:12 AM IST Coinbase reported $1.5 billion in Q2 revenue, missing estimates, with adjusted Ebitda down to $512 million as trading activity declined despite rising crypto prices. Coinbase's disappointing Q2 results have led to a 7% drop in its stock, as the crypto exchange reported $1.5 billion in revenue, falling short of expectations. In contrast, Strategy (MSTR) reported a significant profit of $14 billion, driven by a 30% rise in Bitcoin prices, showcasing the contrasting fortunes in the crypto market. Meanwhile, Ethereum's Justin Drake has proposed a new roadmap, 'Lean Ethereum,' aimed at enhancing the network's security against potential quantum threats. Additionally, Figma's IPO saw its shares soar 198%, with the company holding $70 million in a Bitcoin ETF and planning further investments in Bitcoin. Lastly, SEC Chairman Paul Atkins announced 'Project Crypto,' which aims to clarify regulations around crypto assets, asserting that most are not securities, marking a shift from previous SEC positions. This wave of developments highlights the dynamic nature of the cryptocurrency landscape, with companies adapting to market conditions and regulatory changes. Show more
Yahoo
an hour ago
- Business
- Yahoo
Saylor's Strategy swings to quarterly profit amid crypto goldrush
(Reuters) -Strategy reported its first profit in six quarters on Thursday, as the biggest corporate holder of bitcoin benefited from a remarkable quarter for cryptocurrencies. In a watershed moment of legitimacy for the crypto industry, U.S. President Donald Trump signed the GENIUS Act into law earlier this month. Industry anticipation leading up to the moment helped rally bitcoin — the largest cryptocurrency — past $120,000 for the first time as investors cheered Washington's long-awaited approval on digital assets. Strategy held 597,325 bitcoins as of June 30, at an average cost of $70,982. Bitcoin currently trades around $116,600. It recorded a $14 billion unrealized fair value gain on digital assets during the quarter that saw corporations ranging from major U.S. banks to payment firms embrace crypto. Until the fourth quarter of 2024, the company could only record losses when bitcoin's value fell below its purchase price, but could not recognize price increases unless it sold bitcoin. The company's net profit was $9.97 billion, or $32.60 per share, for the three months ended June 30, compared with a loss of $102.6 million, or 57 cents per share, a year earlier. Strategy began buying bitcoin with cash in 2020 and then started issuing low-cost convertible bonds and stock sales to finance its accumulation drive. Its shares are up nearly 39% this year, eclipsing bitcoin's 25% climb, a phenomenon that has now inspired several public companies to pivot their operations and mimic founder Michael Saylor's buy-and-hold treasury approach. A few among these companies are now also pivoting to smaller tokens like ether, often listing via mergers with blank-check vehicles to wrap crypto assets into equity. Strategy's stock nearly fivefold last year, helping it secure a spot in the Nasdaq 100 index in December. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
2 hours ago
- Business
- CNA
Saylor's Strategy swings to quarterly profit amid crypto goldrush
Strategy reported its first profit in six quarters on Thursday, as the biggest corporate holder of bitcoin benefited from a remarkable quarter for cryptocurrencies. In a watershed moment of legitimacy for the crypto industry, U.S. President Donald Trump signed the GENIUS Act into law earlier this month. Industry anticipation leading up to the moment helped rally bitcoin — the largest cryptocurrency — past $120,000 for the first time as investors cheered Washington's long-awaited approval on digital assets. Strategy held 597,325 bitcoins as of June 30, at an average cost of $70,982. Bitcoin currently trades around $116,600. It recorded a $14 billion unrealized fair value gain on digital assets during the quarter that saw corporations ranging from major U.S. banks to payment firms embrace crypto. Until the fourth quarter of 2024, the company could only record losses when bitcoin's value fell below its purchase price, but could not recognize price increases unless it sold bitcoin. The company's net profit was $9.97 billion, or $32.60 per share, for the three months ended June 30, compared with a loss of $102.6 million, or 57 cents per share, a year earlier. Strategy began buying bitcoin with cash in 2020 and then started issuing low-cost convertible bonds and stock sales to finance its accumulation drive. Its shares are up nearly 39 per cent this year, eclipsing bitcoin's 25 per cent climb, a phenomenon that has now inspired several public companies to pivot their operations and mimic founder Michael Saylor's buy-and-hold treasury approach. A few among these companies are now also pivoting to smaller tokens like ether, often listing via mergers with blank-check vehicles to wrap crypto assets into equity. Strategy's stock nearly fivefold last year, helping it secure a spot in the Nasdaq 100 index in December.
