DJT Stock: Trump Media Reports Big Loss, Scant Revenue
Trump Media's Earnings: Disaster or Just a Blip?
Trump Media & Technology Group, associated with former President Donald Trump and parent of Truth Social, reported a substantial loss with minimal revenue. Their quarterly financials showed a $12.1 million adjusted EBITDA loss and revenue of just $770,500. Despite these figures, the company remains optimistic about its capital sufficiency for future operations. DJT stock experienced minor fluctuations, with a slight increase in extended trading but an overall decline in recent sessions.
What was the reported quarterly revenue for Trump Media & Technology, and how does it compare to the previous quarter?
Trump Media & Technology reported a quarterly revenue of $770,500. This figure represents the second consecutive quarter where the revenue has been below $1 million, indicating a consistent struggle in boosting sales. The revenue amount has not changed significantly from the previous quarter, maintaining a level below the $1 million mark.
What significant non-cash expenses did Trump Media report, and how did they impact the overall GAAP loss?
Trump Media reported significant non-cash expenses of $311 million, which arose from the conversion of promissory notes and the associated elimination of prior liabilities just before the closing of the company's merger with Digital World Acquisition Corp (DWAC). These non-cash expenses had a substantial impact on the overall GAAP loss, contributing to the reported net loss of $327.6 million for the first quarter of 2024.