Trump Media and Technology Group Reports Over $300 Million Net Loss in First Public Quarter

Trump Media and Technology Group Reports $300 Million Loss in First Earnings Report as Publicly Traded Company, Shares Rise Slightly After Hours

In its first earnings report as a publicly traded company, Trump Media and Technology Group reported a loss of over $300 million. The company attributed the loss to non-cash expenses related to its merger with Digital World Acquisition Corp. Despite this setback, shares of the company saw a slight increase in after-hours trading, climbing to $48.74.

Revenue for Trump Media in the first quarter was $770,500, primarily from its advertising initiative. This was a decrease from the previous year’s revenue of $1.1 million. The company stated that it is focused on long-term product development rather than immediate revenue generation at this early stage of its development.

Trump Media recently fired its auditor, BF Borgers, due to charges of fraud by federal regulators. This led to a delay in the filing of the quarterly earnings report. The company had previously changed auditors at least twice before this incident.

Despite these challenges, Trump Media remains optimistic about its future prospects and is committed to continuing to grow and innovate in the media industry.

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