Trump Media reports a $16 million loss for the quarter due to declining revenue.
- The social media company owned by former President Donald Trump, Trump Media, recorded a net loss of over $16 million in the latest financial quarter.
- The Truth Social app, owned by Trump Media, experienced a decline in revenues for the quarter ending June 30 compared to the previous year.
- In November, the Republican presidential candidate Donald Trump, along with his running mate Senator JD Vance, will compete against the Democratic nominee Vice President Kamala Harris and Minnesota Governor Tim Walz in the election.
On Friday, the social media company with former President Donald Trump as its majority shareholder reported a net loss of over $16 million for the latest financial quarter.
The Truth Social app, owned by Trump Media, experienced a decline in revenue for the quarter ending June 30 compared to the previous year.
The stock price of Trump Media, which is traded under the DJT ticker, has dropped significantly from a high of over $71 per share following its public trading debut in late March after a merger with a special acquisition corporation, to close at $26.21 per share on Friday afternoon.
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by Dan Mangan
Politics
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