Strategy Reports $8.22 Billion Q2 Loss but Stock Rises 4.4%
On July 30, 2026, Strategy (MSTR) reported a net loss of $8.22 billion for the second quarter, with diluted loss per share at $24.45—far exceeding analyst expectations of -$2.19 per share. Despite this significant accounting loss, shares rose by 4.4% to close at $97.74 on earnings day. The market's positive reaction was driven not by the GAAP-reported losses but rather by underlying business performance and financial strength. The majority of Strategy’s operating loss stemmed from an unrealized drop in Bitcoin holdings due to fair-value accounting rules, with no cash outflow involved. The company holds 843,775 BTC at a cost basis of $75,476 per coin. Investors focused on key metrics such as subscription revenue growth (up 54% year-over-year) and the USD reserve balance reaching $3.75 billion—enough to cover preferred stock dividends for about 25 months without selling Bitcoin.
Tickers: $MSTR