Apple (APPL) reported fiscal third quarter EPS of $2.02 versus Street forecasts for $1.89. Sales of $109.4 billion beat estimates for $108.7 billion.
Gross margins of 50.1% topped company guidance for around 48%.
At least part of the EPS and gross margin beat appeared to come from tariff refunds.
Shares are lower by 2.5% in after-hours trading, but the stock has been a port in the storm during the last few weeks of volatility, rising 15% month-over-month and trading Thursday at very close to a record high.
Strategy (MSTR), the world’s largest corporate bitcoin (BTC) holder, reported Thursday an $8.2 billion second-quarter net loss after the cryptocurrency’s price decline erased billions of dollars from the value of its digital asset holdings.
The quarterly loss was driven almost entirely by an $8.32 billion unrealized markdown on its bitcoin holdings under fair-value accounting.
Shares aren’t moving on the news, the loss having already been figured out by investors.
The company held 843,775 bitcoin as of July 26, up 25% from the start of the year. At current prices, the stash is worth roughly $54.8 billion, compared with an acquisition cost of $63.7 billion.
The report came after a period of growing investor scrutiny on the firm over whether it can sustain an increasingly complex capital structure built around multiple classes of preferred stock, common equity and convertible debt.
The company raised $17.06 billion through at-the-market stock offerings this year, repurchased $1.5 billion of convertible notes at an 8% discount and expanded its U.S. dollar reserve to $3.75 billion, enough to cover more than two years of preferred dividend payments and interest expenses.
"Our USD Reserve currently stands at $3.75 billion, which is enough to cover our existing preferred dividend payments and interest obligations for more than 2.1 years," Chief Financial Officer Andrew Kang said in a statement.
The firm also sold about $218.4 million worth of bitcoin under its new BTC Monetization Program to shore up cash and help fund preferred stock dividends, departing from its long-standing strategy of accumulating bitcoin without selling it.
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