Trump Media gains post-election, even as Truth Social parent reports $19 million quarterly loss

NEW YORK — The parent company of Donald Trump’s social networking site Truth Social lost $19.2 million in the last quarter, according to an earnings report released on the same day he won back the presidency.

Trump Media and Technology Group reported late Tuesday that much of that loss stemmed from more than $12 million in legal fees, along with a decline in revenue, according to the surprise Election Day earnings report. Its stock price surged Wednesday but that was more likely due to Trump’s defeat of Vice President Kamala Harris to retake the presidency than on its profit prospects.

Trump created the company after he was banned from Twitter and Facebook following the Jan. 6, 2021, Capitol riot.

Revenue for the three-month period that ended on September 30 was just over $1 million, down nearly 6% from a year earlier. Trump Media, based in Sarasota, Florida, has lost more than $363 million so far this year.

Trump Media said some of its costs related to the launch of its new TV streaming service called Truth+.

CEO and former Republican U.S. Rep. Devin Nunes said in a statement the company “continues to explore additional possibilities for growth” such as mergers with other companies that “would benefit from Trump Media technology and branding.”

The company said in a regulatory finding that its success depends in part on “the reputation and popularity of President Donald J. Trump.”

Read More

  • Related Posts

    Trump hints at sending U.S. soldiers to take over Greenland: ‘I think it’ll happen’

    President Donald Trump on Thursday reiterated the United States ‘needs’ Greenland for national security purposes and indicated he’s willing to send in American troops to take control of the island. …

    Donald Trump issues chilling new ‘World War 3’ nuclear warning if Ukraine peace talks fail

    President Donald Trump has declared that World War III could ‘very easily’ erupt and would prove to be ‘a war like no other’ with catastrophic nuclear weapons if peace talks over…

    You Missed

    Mystery as Dallas tycoon snaps up three enormous mansions in city’s glitziest neighborhood

    • By admin
    • April 8, 2025
    • 1 views
    Mystery as Dallas tycoon snaps up three enormous mansions in city’s glitziest neighborhood

    STEPHEN DAISLEY: She was damned by faint praise…but then Findlay broke out the flamethrower

    • By admin
    • April 8, 2025
    • 1 views
    STEPHEN DAISLEY: She was damned by faint praise…but then Findlay broke out the flamethrower

    Trump hints at sending U.S. soldiers to take over Greenland: ‘I think it’ll happen’

    • By admin
    • April 8, 2025
    • 1 views
    Trump hints at sending U.S. soldiers to take over Greenland: ‘I think it’ll happen’

    Haunting final moments of Delphi murder victims revealed for first time in new video

    • By admin
    • April 8, 2025
    • 1 views
    Haunting final moments of Delphi murder victims revealed for first time in new video