Trump’s Truth Social media company posts $327m first-quarter loss

Trump Media and Technology Group, which owns Truth Social, says focus is ‘long-term product development’ rather than revenueTrump Media and Technology Group, the owner of Donald Trump’s social networking site Truth Social, lost more than $300m last quarter, according to its first earnings report as a publicly traded company.For the three-month period that ended 31 March, the company posted a loss of $327.6m, which it said included $311m in non-cash expenses related to its merger with a company called Digital World, which was essentially a pile of cash looking for a target to merge with. Continue reading...

May 21, 2024 - 04:30
 0  1
Trump’s Truth Social media company posts $327m first-quarter loss

Trump Media and Technology Group, which owns Truth Social, says focus is ‘long-term product development’ rather than revenue

Trump Media and Technology Group, the owner of Donald Trump’s social networking site Truth Social, lost more than $300m last quarter, according to its first earnings report as a publicly traded company.

For the three-month period that ended 31 March, the company posted a loss of $327.6m, which it said included $311m in non-cash expenses related to its merger with a company called Digital World, which was essentially a pile of cash looking for a target to merge with. Continue reading...

usnews US News is a reputable author that delivers a comprehensive range of up-to-date news to the United States and beyond. With a keen focus on providing the latest information across various fields, US News keeps readers informed about the most significant developments happening both domestically and globally. Whether it's politics, economics, technology, science, health, or culture, this author strives to cover diverse topics, ensuring a well-rounded news experience. By combining extensive research, journalistic integrity, and a commitment to accuracy, US News offers readers an invaluable resource to stay informed and make informed decisions in an ever-changing world.