Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Top 5 moments from Charlie Kirk’s memorial service...
Trump set to approve TikTok deal ensuring majority-American...
Harris is speaking. This time, she isn’t bending...
Hamas letter to Trump asks for 60-day ceasefire...
Trump must make UN funding conditional on real...
Democrats skip Charlie Kirk Arizona memorial after 58...
‘Due to overhelming support:’ Turning Point USA says...
Thune slams Democrats’ ‘cold-blooded partisan’ tactics as funding...
Macron stakes anti-Trump global role with Gaza initiative...
Trump assassination attempt suspect Ryan Routh questions first...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Business

Trump Media reports $16 million loss for quarter as revenue falls

by admin August 13, 2024
August 13, 2024
Trump Media reports $16 million loss for quarter as revenue falls

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, mostly due to legal expenses, as well as consulting and licensing expenses.

Trump Media, which owns the Truth Social app often used by the former president, also reported that its already meager revenue dropped by 30% for the three months that ended June 30, compared to the same period last year.

The stock price of Trump Media, which trades under the DJT ticker, has fallen sharply from a high of more than $71 per share shortly after began publicly trading in late March following a merger with a so-called special purpose acquisition corporation. Trump Media stock closed at $26.21 per share Friday afternoon, a decrease of .49%.

The company has a market capitalization of nearly $5 billion, an extraordinarily high valuation given its very modest sales.

In its 10-Q filing Friday afternoon, Trump Media reported a loss of $16.37 million for the quarter ending June 30, compared to a $22.8 million loss for the same quarter in 2023.

About half of the loss for the past quarter was due to legal expenses related to Trump Media’s merger with Digital World Acquisition Corp., the company said.

“Additionally, the Company incurred $3.1 million of IT consulting and software licensing expenses, primarily related to its software licensing agreement to power its new TV streaming service,” Trump Media said in a press release.

Revenue for the most recent quarter was just $839,000, compared to $1.2 million for the same quarter last year.

“A significant portion of the decrease was attributable to a change in the revenue share with one of our advertising partners, in connection with an agreement intended to improve the Company’s short-term, pre-Business Combination financial position,” Trump Media said in its 10-Q filing.

“Additionally, revenue has varied as we selectively test a nascent advertising initiative on the Company’s Truth Social platform,” the company said.

Trump Media said it ended the quarter with $344 million in cash and cash equivalents, with no debt.

“The Company believes its strong balance sheet will enable the expansion and refinement of its new TV streaming platform, Truth+, which was launched in August 2024 on the Company’s custom-built content delivery network (‘CDN’),” Trump Media said in a press release.

“With its strong balance sheet and zero debt load, the Company believes it has sufficient working capital to fund operations for the foreseeable future,” the company said.

Donald Trump, who is the Republican presidential nominee, and his running mate Sen. JD Vance of Ohio are set to face the Democratic nominee, Vice President Kamala Harris, and Minnesota Gov. Tim Walz in November’s election.

This post appeared first on NBC NEWS

previous post
Wealthy investors find opportunities in stock market sell-offs
next post
Submission of ASX Listing Prospectus, Proposed Fundraising to Raise up to A$20M and Notice of General Meeting

You may also like

Dollar Tree says it’s winning over higher-income shoppers...

March 28, 2025

Caroline Ellison seeks to duck prison sentence for...

September 13, 2024

AT&T, other phone companies sued over stolen nude...

July 30, 2024

Google employees pressure costumed execs at all-hands meeting...

November 2, 2024

Comcast announces plan to spin off cable channels,...

November 21, 2024

5 new Uber features you should know —...

May 15, 2025

SEC charges Carl Icahn with hiding billions of...

August 22, 2024

Why orange juice is so expensive

August 1, 2024

Venu, a $42.99 per month sports streamer, has...

August 2, 2024

Peloton launching resale market for used bikes, treadmills

June 4, 2025

Recent Posts

  • Top 5 moments from Charlie Kirk’s memorial service in Arizona
  • Trump set to approve TikTok deal ensuring majority-American investor control: White House
  • Harris is speaking. This time, she isn’t bending to Biden’s bullies
  • Hamas letter to Trump asks for 60-day ceasefire deal to release half of hostages, sources say
  • Trump must make UN funding conditional on real reforms, ex-diplomat urges

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (927)
    • Investing (3,032)
    • Politics (3,709)
    • Stock (4)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 Sightful Invest. All Rights Reserved.