Trump Media Reports $238 Million Loss in Second Quarter
Summary
Trump Media and Technology Group reported a $238 million loss in the second quarter, driven in part by its expanding investments in cryptocurrency and other sectors. The company’s revenue rose to $1.7 million, while its assets reached about $2 billion by the end of June.
Key Points
- Trump Media and Technology Group reported a $238 million loss from April to June, more than 10 times the loss in the same period last year.
- Revenue in the second quarter rose 89 percent year-on-year to $1.7 million.
- The company said its losses increased as it expanded investments in cryptocurrency and other sectors, with digital currency declines hurting performance.
- By the end of June, Trump Media’s total assets were about $2 billion, including roughly $1.9 billion in financial assets.
