Decision support software house MicroStrategy Inc, in its first quarterly report following the company’s initial public offering last month (CI No 3,430), posted second-quarter net income of $942,000 on revenue that soared just more than 100% year-over- year to $23.8m. The profit dwarfed the $122,000 recorded in the year-ago period. Earnings per share for the […]
Decision support software house MicroStrategy Inc, in its first quarterly report following the company’s initial public offering last month (CI No 3,430), posted second-quarter net income of $942,000 on revenue that soared just more than 100% year-over- year to $23.8m. The profit dwarfed the $122,000 recorded in the year-ago period. Earnings per share for the quarter stood at $0.03, a penny better than the consensus estimate of analysts surveyed by First Call. During the quarter, the company notched numerous new customer wins, including Citicorp, Lexis-Nexis, L’Oreal, StarKist and GeoCities. It also upped its total number of consulting and systems integration partners to more than 100, with 19 new agreements. Six-month net income was $1.5m, or $0.05 per share, on revenue up 137.3% at $30.5m, against a net loss of $881,000 last year. MicroStrategy shares closed at $35 on Wednesday, down $1.25, but still in a different realm from the initial offering price of $12, or even the maiden session’s high of $24.50.
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