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MicroStrategy Expected To Report Profit Despite Down Quarter for Crypto: Preview

MicroStrategy reports fourth quarter results Thursday with the company expected to turn a profit after several down quarters even as revenue comes in slightly lower than a year earlier. 

The software firm, better known in recent years for its bet on bitcoin, is expected to report revenue of $131 million for the fourth quarter, according to the average estimate compiled by FactSet. The compares to $134.5 million a year earlier. 

Net income is estimated at $10.7 million, which would be the first time MicroStrategy has posted a profit since the fourth quarter of 2020. 

A revenue decline would halt a string of three quarters of growth, but would come amid a tough quarter for the crypto world that saw FTX collapse and bitcoin drop to around $17,000 compared to its November 2021 high of $69,000.

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