- In tandem with its Q2 results, MicroStrategy (NASDAQ:MSTR) says it has named Phong Le, currently the CFO of telecom carrier XO Communications, its next CFO. Le will succeed, Doug Thede, who announced his plans to retire in March, on or around Aug. 24.
- Shares have jumped to $190.00 AH in response to MicroStrategy's Q2 beat. As was the case in Q1, job cuts boosted EPS: Operating expenses fell 39% Y/Y to $72.3M.
- Product license/subscription services revenue (drives future support revenue) rose 3% Y/Y in Q2 to $36.4M, a turnaround from Q1's 15% decline. Product support revenue fell 5% to $70.7M; other services revenue fell 20% to $25.8M. The BI software vendor ended Q2 with $427.9M in cash/short-term investments, and no debt.
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Q2 results, PR