Trump Media & Technology Group (TMTG) reported a net loss exceeding $238 million in its fiscal second quarter, a sharp increase from the $20 million loss in the same period last year. The loss was mainly driven by over $190 million in declines from digital assets, pledged digital assets, and equity securities. Despite this, TMTG's revenue rose 89% year-over-year to $1.7 million, largely from ad services on Truth Social, its social media platform. Operating expenses surged 275% to over $165 million, influenced by digital asset price volatility. The company also revealed that its Truth API service, which offers faster access to Truth Social posts, has secured over 10 customers, mainly high-frequency trading firms paying $60,000 to $100,000 monthly.
Trump Media's stock fell over 8% to $9.39 before its Q2 earnings report, erasing recent gains amid concerns over stagnant advertising revenue. The company has not introduced new revenue sources, continuing to rely on underperforming ads. Despite the ...
Shares of Trump Media & Technology Group fell 7.83% to $9.41, continuing a decline driven by regulatory concerns and weak financial results. The company recently launched the Truth API, which has faced bipartisan criticism and a Senate request for an...
