12:28 PM EDT, 04/30/2024 (MT Newswires) -- (Updates with latest stock move in the headline and first paragraph.)

MicroStrategy ( MSTR ) shares dropped more than 15% in recent Tuesday trading, a day after the company reported lower-than-expected Q1 results.

Late Monday, the firm reported a Q1 non-GAAP loss of $8.26 per share, compared with earnings of $30.59 a year earlier.

Four analysts polled by Capital IQ expected a loss of $0.13.

Revenue in the quarter ended March 31 fell to $115.25 million from $121.92 million a year earlier.

Analysts surveyed by Capital IQ expected $121.4 million.

Price: 1094.79, Change: -198.18, Percent Change: -15.33