MicroStrategy reported record net income of $19.53 billion for the third quarter of 2026. Earnings were $44.75 per diluted share. Net income was $2.79 billion in the same quarter a year earlier.
The profit was driven almost entirely by a $20.91 billion unrealized gain on the company’s bitcoin holdings, recognized under fair value accounting rules.
Total revenue fell 3% year over year to $125.4 million. Revenue also missed analyst estimates.
Results in the core software business were mixed. Subscription services revenue grew, while product license and support revenue declined.
As of October 25, 2026, MicroStrategy held approximately 848,517 bitcoins. Bitcoin per share was down 3.7% year to date, as share offerings were used to fund operations and buybacks.
The company also announced that CFO Andrew Kang will step down.