Trump Media & Technology Group Posts Net Loss in First Quarter as the Truth Social Parent Company Pursues Mergers, Streaming Opportunities from maponics acquisition Watch Video
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⏲ Duration: 0:41 👁 View: 30K times ✓ Published: 22-May-2024
Description: Trump Media & Technology Group, the parent company of Donald Trump's Truth Social network, reported a net loss of over $300 million and total revenue of more than $770,000 in its first fiscal quarter. DJT shares were relatively flat in post-market trading following the earnings report's release. TMTG also said it signed contracts with a data center partner and hardware vendor to launch Truth Social's TV streaming platform in three phases. CEO Devin Nunes said the company is exploring potential mergers and acquisitions to expand Truth Social and develop its own content delivery network for the TV streaming platform.