A court ruled in favor of MicroStrategy in a patent infringement lawsuit brought by French business intelligence software rival Business Objects, helping to send the company’s stock sharply higher Friday. MicroStrategy said the U.S. District Court for the Northern District of California issued a summary judgment in its favor when the sole remaining claim in the patent suit was dismissed. Adding to the good news for MicroStrategy, the firm reported that its second-quarter profit rose 54 percent to $17.6 million or $1.12 per share. The results exceeded analysts’ consensus estimates of $0.89 per share. The company’s revenue increased 31 percent to $65.4 million. MicroStrategy shares jumped 17 percent or $11.19 to $77.37 in recent trading.

Posted by GEN-ERIC at 12:20:53 am into the following categories: In The News

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