In the last quarter, Trump Media and Technology Group, the parent company of Truth Social, reported a significant loss of over $300 million. This was their first earnings report since becoming a publicly traded company. The company attributed much of this loss to non-cash expenses related to its merger with Digital World Acquisition Corp, which was a special purpose acquisition company.
Despite facing challenges regarding its auditors, resulting in delays in filing the quarterly earnings report, Trump Media’s stock price saw an increase in after-hours trading. The stock trades under the ticker symbol “DJT” and began trading on Nasdaq in March. The stock price had reached nearly $80 in late March before declining.
In the first quarter, Trump Media generated $770,500 in revenue, primarily from its advertising efforts. This was a decrease from the previous year when revenue was at $1.1 million. Despite this decline, the company emphasized that their focus is on long-term product development rather than immediate revenue.
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