What changed
Strategy delivered a massive beat with GAAP EPS of $44.75 versus the $21.50 street consensus, a +108.1% surprise. Revenue came in at $125M, down 2.6% YoY, while net income hit $19.53B. The bottom-line blowout was driven by a $20.91B gain on digital assets in the quarter, as the company's 848,517 bitcoin holdings benefited from fair-value accounting.
Why it matters
Strategy delivered a massive beat with GAAP EPS of $44.75 versus the $21.50 street consensus, a +108.1% surprise. Revenue came in at $125M, down 2.6% YoY, while net income hit $19.53B. The bottom-line