[MicroStrategy's first-quarter losses widened, revenue declined, and cryptocurrency holdings performed weakly] MicroStrategy, a major Bitcoin holder, said on Thursday that its losses widened to $4.23 billion, or $16.49 per share, compared with a loss of $53.1 million, or 31 cents per share, in the same period last year. Analysts expected a loss of 11 cents per share for the quarter. Revenue fell 3.6% to $111.1 million. Analysts surveyed by FactSet had previously expected $116.6 million. In April, MicroStrategy said it expected to record a loss in the first fiscal quarter and warned of more losses in the future as the value of its cryptocurrency holdings fell. The company said at the time that it had not purchased more Bitcoin since the end of the fiscal quarter. MicroStrategy raised its full-year target Bitcoin yield target from 15% to 25%. The company said it achieved a 14% yield in the first fiscal quarter. The company also announced the issuance of $21 billion in common stock to purchase more Bitcoin.
