DJT: Trump Media reports $770,500 revenue for first quarter, net loss of $327.6 million [View all]
Source: cnbc.com
Published Mon, May 20 20245:35 PM EDT Updated 10 Min Ago
Trump Media & Technology Group, the parent company of Donald Trump’s Truth Social network, reported a net loss of $327.6 million, with total revenue at $770,500 in its first fiscal quarter.
DJT shares were relatively flat in post-market trading following the release of the earnings report, which had not been highly publicized prior.
TMTG also said it signed contracts with a data center partner and hardware vendor to launch Truth Social’s TV streaming platform.
Trump Media & Technology Group, the parent company of Donald Trump’s Truth Social platform, disclosed a net loss of $327.6 million in the first quarter of the year, with total revenue at $770,500, according to its earnings report, filed Monday with the Securities and Exchange Commission.
The report is one of the first measures of the company’s true financial health since it debuted as a public company on the Nasdaq Stock Market in March after completing a merger with a shell company, Digital World Acquisition Corp.
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Since going public, the DJT stock has whipsawed on what experts say is a meme stock trajectory, sometimes rising or falling dramatically, without any significant news to account for the swing.
TMTG CEO Devin Nunes said the company is exploring “a wide array of initiatives and innovations to build out the Truth Social platform including potential mergers and acquisitions activities” in a statement on Monday................................
Read more: https://www.cnbc.com/2024/05/20/trump-media-djt-q1-2024-earnings.html
ah... trumpy will have to do some more begging for the green stuff.
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