MSTR Falls 3% as Strategy Q3 Revenue Misses Estimates

Strategy shares fell 2.44% to $141.62 on Oct. 29 after third-quarter 2026 revenue missed estimates. The stock closed down $3.54 from $145.16. It opened at $141.65, rose to an intraday high of $144.76, fell to $138.88, and recovered slightly before the close. After-hours trading took the price to about $137.80, down another 2.70%. Revenue was $125.4 million, down 3% from a year earlier and below the $127.2 million analyst estimate. Earnings per share reached $44.75, far above the $8.17 consensus. Net income rose 600% to $19.53 billion. Operating income rose 438% to $20.91 billion, helped by a $20.91 billion unrealized gain on digital assets. The press release listed net income of $19.12 billion and operating income of $20.91 billion, which Strategy rounded to $21 billion and called the largest quarter in its history. The company said it had raised $21 billion year to date and had returned STRC to health. Strategy bought 267 BTC between Oct. 12 and Oct. 18 at an average $82,900, spending $22.1 million. It reported no Bitcoin purchases in the latest week. Holdings stood at 848,517 BTC, up 26% year to date. The company expanded its digital credit securities repurchase authorization to $3 billion. MSTR rose more than 2% the last time the company reported a Bitcoin purchase and an authorization increase. CFO Andrew Kang will step down Nov. 5 and remain an adviser through Dec. 31. President and CEO Phong Le will serve as principal financial officer during the transition. Reza Virasteh, currently executive vice president of operations, becomes executive vice president and CFO on Jan. 1, 2027, and will serve as co-principal financial officer with Le. Le will keep responsibility for financial management of the Bitcoin strategy. Barclays analyst Nik Cremo raised his MSTR price target to $175 days before the earnings call and placed the company in the payments and fintech space. The target is one analyst estimate, not a guarantee of future performance.