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DeepNewz, mobile.
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Trump Media & Technology Group, the parent company of Truth Social and majority-owned by former President Donald Trump, reported a significant financial loss for the second quarter of 2024. The company ended the quarter with a $16.4 million net loss and generated only $837,000 in revenue, marking a 30% decline year-over-year. Despite these losses, Trump Media holds $344 million in cash and remains debt-free. The company's market capitalization is approximately $5 billion. Trump Media plans to introduce streaming apps for in-home TV sets and new advertising capabilities.
Trump Media, the social media company whose majority shareholder is former President Donald Trump, on Friday reported a net loss of more than $16 million for the most recent financial quarter.
Trump Media financial results • Market cap $5 billion. • Q2 revenue $837,000. • Quarterly loss -$16.4 million. This isn’t just a meme stock, there are crypto shitcoins with better financials. https://t.co/nat6C0iUFy
Trump Media, Truth Social's parent company that has a ~$5B market cap, reports Q2 revenue down 30% YoY to $837K; Trump owns 59.9% of Trump Media's common stock (@evadou / Washington Post) https://t.co/7yWC8Pspbj https://t.co/PbC3ceDlem
