
Trump Media & Technology, the brainchild of former President Donald Trump, continues to grapple with financial woes, as recent reports reveal another quarter of meager revenue and skyrocketing operating costs.
Despite these challenges, the company has managed to reduce its overall net losses, though the numbers still paint a grim picture.
In the latest quarter, Trump Media reported sales of just $836,000—a 30% drop from the same period last year.
This marks the third consecutive quarter hovering around the $800,000 mark, with a slight uptick from the previous quarter’s $770,500.
Yet, as revenue struggles to gain traction, the company’s expenses have surged.
Operating costs ballooned to $19.5 million, a sharp increase from $4.9 million the previous year, leading to an operating loss of $18.7 million, compared to $3.8 million in Q2 2023.
Interestingly, Trump Media managed to narrow its net loss to $16.4 million, down from $22.8 million the year before.
However, nearly half of this loss is attributed to legal expenses, particularly those related to its reverse merger with Digital World Acquisition Corp. back in March, a move that took the company public.
In the stock market, DJT shares remained flat in after-hours trading, following a tumultuous week that saw the stock drop 10.3% to 26.21—a stone’s throw from its lowest levels since going public.
The recent slump in Trump Media’s stock could mirror former President Trump’s faltering campaign momentum, a stark contrast to the brief surge in July when shares soared to 46.27 following an assassination attempt on Trump and his subsequent lead in the polls after President Joe Biden exited the 2024 race.
As Trump Media & Technology continues to navigate these financial storms, the road ahead remains uncertain.
For now, the company’s struggles serve as a stark reminder that even the most high-profile ventures are not immune to the harsh realities of the business world.
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