MicroStrategy Loss Widens Despite Revenue Growth - Quick Facts

(RTTNews) - MicroStrategy Inc (MSTR), a provider of enterprise software platforms, said Monday its second-quarter net loss widened to $10.3 million or $0.91 per share from $1.6 million or $0.14 per share last year.

Excluding items, adjusted loss for the quarter was $9.6 million.

Analysts polled by Thomson Reuters projected a loss of $0.08 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues were $141.9 million compared with $137.9 million a year ago, while analysts expected $145.2 million.

Results were largely offset by operating expenses that were up 15% at $119 million, the company said.

MicroStrategy is embarking on a workforce restructuring plan, a major part of which is expected to be implemented in the third quarter of 2014. The plan is expected to deliver annualized pre-tax savings of at least $40 million; charges resulting from the plan are expected in the range of $3 million to $5 million.