MicroStrategy Stock Soars 6% After $2.8B Q3 Earnings Beat

Shares of MicroStrategy (MSTR) surged nearly 6% after the Bitcoin-focused investment firm reported a $2.8 billion profit for the third quarter, exceeding analyst expectations. Despite earnings dipping slightly from the previous quarter, this impressive result is attributed to strong cryptocurrency market performance and increasing institutional interest in the company’s blockchain strategy. The stock rebounded sharply following a 7.5% drop earlier on Wall Street, closing above $267.37, marking its highest point in six months.