Strategy Qualifies for S&P 500, Inclusion Decision Could Come on Friday

MicroStrategy, now doing business as Strategy (MSTR), has officially qualified for potential inclusion in the S&P 500 after posting one of the strongest quarters in its history. In the second quarter of 2025, the company reported $14 billion in operating income and $10 billion in net income, equal to $32.6 in diluted earnings per share. Quarterly revenue came in at $114.5 million, a modest 2.7% increase year-over-year, with subscription services rising nearly 70%. The results mark a dramatic turnaround from prior years, when impairment charges tied to bitcoin (BTC) depressed reported earnings. The adoption of new fair-value accounting standards in January 2025 allowed Strategy to recognize unrealized gains on its digital asset holdings, directly boosting profitability. With bitcoin trading above $100,000 during the period, the company booked massive paper gains that transformed its balance sheet. As of June 30, Strategy held 597,325 bitcoin. The firm highlighted a BTC Yield of 19.7% year-to-date, a key performance indicator measuring the percentage change in the ratio between its bitcoin count and assumed diluted shares outstanding. Management raised guidance for full-year 2025 to $34…