Trump Media's Losses Shrink as Sales Surge in First Quarter of Trump 2.0 Era

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Trump Media & Technology Group Corp. on Friday reported a narrower loss and an increase in revenue for the first quarter — its first three-month period since President Donald Trump’s return to the White House.

The company which is the parent of the Trump-centric social-media platform Truth Social, reported sales of $821,200 for the quarter, up 6.6% year over year. It posted a net loss per share of 14 cents, compared with a loss of $3.61 a share in the prior year’s quarter.

Analyst estimates from FactSet were unavailable.

Trump Media said it had “a low operating cash outflow” of $9.7 million, including combined interest income and revenues of $8.8 million over the period. It said it ended the first quarter with $759 million in cash, cash equivalents and short-term investments.

The firm reported having incurred $10.9 million in legal expenses, encompassing expenditures associated with its merger that took place last year through a special-purpose acquisition company, also known as a SPAC.

The shares increased by 0.4% following the market closing. By the end of trading on Friday, Trump Media’s stock had dropped 51.2% over the last twelve months and 27% since the beginning of the year.

In the initial three months, the firm announced the introduction of the Truth.Fi fintech label along with alliances aimed at developing exchange-traded funds and various financial products featuring "America First" concepts. Additionally, they mentioned considering growth via mergers and acquisitions, as well as preparing for the debut of a new subscription offering named Truth+.

“We are now taking every possible step to position the company to expand robustly throughout the America First economy,” Chief Executive Devin Nunes, a former Republican lawmaker, said in a statement.