Strategy reports Q2 net income of $10.0 billion, $32.60 diluted EPS on bitcoin gain
Strategy reported second-quarter 2025 net income of $10.02 billion, or $32.60 per diluted share, compared with a net loss of $102.6 million a year earlier. The company said the profit came mainly from a $14.0 billion unrealized gain on its bitcoin holdings, and it issued FY2025 guidance that depends on a year-end bitcoin price of $150,000.
Key points
- Q2 2025 operating income of $14.03 billion and net income of $10.02 billion, versus a Q2 2024 operating loss of $200.3 million
- Total revenues of $114.5 million, up 2.7% year-over-year; gross margin fell to 68.8% from 72.2%
- FY2025 guidance: operating income of about $34 billion, net income of about $24 billion, diluted EPS of about $80, assuming a $150,000 year-end bitcoin price
- FY2025 BTC $ Gain target raised to $20 billion from $15 billion; BTC Yield target raised to 30% from 25%
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 31, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.