In the first quarter, Trump Media generated $770,500 in revenue, primarily from its advertising efforts. This was a decrease from the previous year when revenue was at $1.1 million. The company emphasized that their focus is on long-term product development rather than immediate revenue.
In March, Trump Media and Technology Group reported a loss of more than $300 million in the last quarter. This was revealed in their first earnings report since becoming a publicly traded company. The company attributed much of this loss to non-cash expenses related to its merger with Digital World Acquisition Corp, which was a special purpose acquisition company.
Despite these challenges, Trump Media’s stock price saw an increase in after-hours trading. The stock trades under the ticker symbol “DJT” and began trading on Nasdaq in March. The stock price had reached nearly $80 in late March before declining.
Federal regulators had charged the former auditor with fraud, leading Trump Media to dismiss them. Previously, the company had gone through several auditors before settling on BF Borgers.
Trump Media faced challenges regarding its auditors, resulting in delays in filing the quarterly earnings report