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riversedge

(71,228 posts)
Mon May 20, 2024, 08:03 PM May 20

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.

..............................

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.

36 replies = new reply since forum marked as read
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Might need to check out Devin Nunes' cow. GregariousGroundhog May 20 #1
Nunes is milking the Truth Social cow but the only thing coming out is putrid sour milk. magicarpet May 20 #6
Hey Devin, merge Truth Social with your one dairy cow. rubbersole May 20 #15
That joke is an udder disgrace (NT) Otto_Harper May 21 #34
It cud be worse. rubbersole May 21 #35
There is an investor in Trump's businesses born every minute. Midnight Writer May 20 #2
$48 per share close today. Market cap of $6.6 billion mn9driver May 20 #3
I think there is some big money (Saudi?) that pumps up the stock every so often Bernardo de La Paz May 20 #10
Revenue going down, expenses and loss soaring. . . . . nt Bernardo de La Paz May 20 #4
It's Doturds' business model!!!! AZ8theist May 20 #17
-$327.6 Million?!?! GB_RN May 20 #5
When companies have substantial losses in a quarter they tend to load up the losses Bernardo de La Paz May 20 #11
Oh, Yeah... GB_RN May 21 #27
This may be one of American Finance's greatest grifting wolfie001 May 20 #7
Showing Elon how it's done! DJ Porkchop May 20 #8
Come on. Do you think they opened an office? jmowreader May 21 #36
Sounds like at least $770K too much... RockRaven May 20 #9
What optimism! Sounds like a plan... Get me another 10,000 shares. keithbvadu2 May 20 #12
How many shares has Jared purchased/invested in with his Saudi billions? keithbvadu2 May 20 #13
Time for Lara to do some more shaking of the RNC's couch cushions. 4lbs May 20 #14
So where did the $300 million go? Diraven May 20 #16
No kidding. Probatim May 20 #18
Watch it nosedive after he loses the election. NBachers May 20 #19
The company is not viable Picaro May 20 #20
In a normal Universe, it would be delisted already relayerbob May 20 #23
This price means really nothing, they're a nothing security. ybbor May 20 #21
Dang! and here I was thinking about investing... PatrickforB May 20 #22
Let's be honest . . . . SarcasticSatyr May 20 #24
But I made sooo much money in... Mawspam2 May 21 #25
Going forward, Dogecoin has more upside Best_man23 May 21 #29
lol BlueWaveNeverEnd May 21 #26
One new detail: operating loss only $12,100,000 Bernardo de La Paz May 21 #28
Hey MAGAts, its BUY, BUY. BUY time! Best_man23 May 21 #30
Hey, Donald... you're such a loser. Oopsie Daisy May 21 #31
Every thing Scumpf touches, he destroys. Kid Berwyn May 21 #32
DJT, the stock, is essentially an election prediciton market mathematic May 21 #33
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