Shares of Strategy rose after the company beat expectations with its third-quarter results and full-year outlook.
The stock rose 8% to $274.16 on Friday. Shares are still down 5% this year.
The bitcoin treasury company after the close on Thursday reported revenue of $128.7 million in the third quarter, ahead of the $117 million analysts expected, according to a survey by FactSet. Earnings per share were $8.42, surpassing the 10-cent loss anticipated by Wall Street.
For the full year, Strategy expects income to hit $24 billion, more than triple the $7.52 billion analysts expect, and $80 a share, above the $25.99 a share forecast by analysts.
Strategy increased its bitcoin holdings in the quarter to 640,808 bitcoin and has raised $20 billion through its capital markets platform year-to-date.
The company is laying the groundwork for credit securities in international jurisdictions, positioning Strategy to become a global credit issuer, Chief Executive Phong Le said.
Write to Katherine Hamilton at [email protected]
