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What will Trump Media's cash reserves be at the end of Q3 2024?
5
Resolution / Starting Odds
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Official financial reports from Trump Media & Technology Group
Story
Trump Media Reports $16.4M Loss and $837K Revenue Amid Decline
Aug 9, 2024, 08:58 PM
Trump Media & Technology Group, the parent company of Truth Social, reported a significant financial loss in the second quarter of 2024. The company, whose majority shareholder is former President Donald Trump, ended the quarter with $344 million in cash and no debt. Despite this, it reported a GAAP net loss of $16.4 million and revenues of only $837,000. This marks a 30% decrease in advertising revenues compared to the previous year. The company is increasingly relying on niche ad campaigns targeting hard-core Trump fans and Christian conservatives. Trump Media plans to unveil streaming apps for in-home TV sets and introduce new advertising capabilities.
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