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What: Shares of MicroStrategy (MSTR 8.29%) got crushed today by as much as 16% after the company reported third quarter earnings on Monday.
So what: Revenue totaled $143.2 million in the quarter, with net income of $4.8 million, or $0.43 per share. Both figures were short of expectations, with the bottom line, in particular, falling short of the $0.84 per share profit that analysts were expecting.
Now what: Thanks to Hurricane Sandy, the market's been closed for two days, so today's the first chance investors have had to express their disappointment. The results come shortly after the company announced an important management change last week, which also triggered a sell-off. The lackluster results show that some fresh blood is needed.
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