Skip to content
Trending
June 26, 2025Micron reports earnings, revenue beat and issues strong forecast June 23, 2025Broadcom beats on earnings and revenue June 28, 2025Nike stock soars 17% after CEO soothes investors, says recovery is on the horizon June 25, 2025Carnival shares pop on earnings beat and raised full-year outlook June 28, 20253 forces driving a record week for stocks as 7 portfolio names hit new highs June 23, 2025U.S. inflation rises 0.1% in May from prior month, less than expected June 23, 2025Darden Restaurants beats earnings estimates, as Olive Garden parent predicts growth in 2026 June 26, 2025Zohran Mamdani’s victory in NYC mayoral primary leaves Wall Street ‘alarmed’ and ‘depressed’ June 28, 2025Nike says tariffs will cost it $1 billion before price increases, supply chain shifts June 25, 2025China doubles down on promoting yuan as confidence in U.S. dollar takes a beating
EverydayRead
  • HOME
  • Business
  • Earnings
  • Economy
  • Finance
  • Lifestyle
EverydayRead
EverydayRead
  • HOME
  • Business
  • Earnings
  • Economy
  • Finance
  • Lifestyle
EverydayRead
  Earnings  Trump Media reports $400 million in 2024 losses
Earnings

Trump Media reports $400 million in 2024 losses

AdminAdmin—February 15, 20250

U.S. President Donald Trump signs an executive order establishing the Energy Dominance Council led by Secretary of the Interior Doug Burgum in the Oval Office at the White House on February 14, 2025 in Washington, DC. President Trump signed a second executive order withholding federal funding from schools and universities that impose a COVID-19 vaccine mandate.

Andrew Harnik | Getty Images News | Getty Images

Trump Media & Technology Group shares were down about 1% in extended trading on Friday after the operator of Truth Social released its 2024 results.

Here’s how the company performed:

  • Earnings: Loss of $2.36 per share
  • Revenue: $3.6 million

The company’s revenue declined 12% year over year, according to its annual report. The company saw its net loss widen to $400.9 million from $58.2 million in 2023.

More stories

Oracle shares slide on earnings and revenue miss, disappointing forecast

December 10, 2024

Porsche CEO says Volkswagen ties ‘should play a role’ amid U.S. tariff threat

March 13, 2025

Nike says tariffs will cost it $1 billion before price increases, supply chain shifts

June 28, 2025

Super Micro issues weak guidance, cites ‘economic uncertainty and tariff impacts’

May 7, 2025

Trump Media debuted on Nasdaq under the ticker “DJT” last March, completing its merger with Digital World Acquisition Corp. The stock nearly doubled in value in 2024, with its namesake, Donald Trump, winning the U.S. presidential election in November. As of Friday’s close, the stock was down about 11% year to date giving it a market capitalization of $6.59 billion.

In 2024, Trump Media incurred merger-related legal fees because of obstruction from former President Biden’s Securities and Exchange Commission, according to a statement. A change to a revenue-sharing agreement with an advertising partner resulted in lower sales. “Additionally, revenue has varied as we selectively test a nascent advertising initiative on our Truth Social platform,” the company said in the annual report.

Unlike Meta and other social media companies, Trump Media management said in the filing they do not believe in using traditional metrics such as the number of active users or average revenue per user. Doing so “could potentially divert its focus from strategic evaluation with respect to the progress and growth of its business,” according to the filing.

In the fourth quarter, Trump Media announced the availability of its Truth+ video streaming service on Android, iOS and the web.

The company has not held an earnings call since the merger.

As of Friday, a trust where President Trump is the sole beneficiary owns 52% of the voting power of the company’s stock, the filing states.

Trump publishes posts on Truth Social, where he has 8.9 million followers. On X, owned by Tesla CEO Elon Musk, who has been helping with the Trump administration’s Department of Government Efficiency, Trump has 100.9 million followers.

Trump Media now has $776.8 million in cash, cash equivalents and short-term investments, with $9.6 million in debt.

“We will continue to explore opportunities to partner, merge with, and acquire other entities that are able to function effectively if TMTG evolves into a holding company with subsidiaries spanning several industries,” Chairman and CEO Devin Nunes, a former Republican Congressman was quoted as saying in the statement.

WATCH: Trump Media expands into financial services, including allocation to crypto: CNBC Crypto World

Trump Media expands into financial services, including allocation to crypto: CNBC Crypto World
As Target and other retailers drop DEI programs, Black founders could face tougher battle to get and stay on shelves
Retail sales slumped 0.9% in January, down much more than expected
Related posts
  • Related posts
  • More from author
Earnings

Nike says tariffs will cost it $1 billion before price increases, supply chain shifts

June 28, 20250
Earnings

Micron reports earnings, revenue beat and issues strong forecast

June 26, 20250
Earnings

Carnival shares pop on earnings beat and raised full-year outlook

June 25, 20250
Load more
Read also
Business

Hemi V-8 engines and mechanical bull rides: Inside Stellantis’ plan to revive its Ram Trucks brand after yearslong sales declines

June 29, 20250
Finance

3 forces driving a record week for stocks as 7 portfolio names hit new highs

June 28, 20250
Economy

Core inflation rate rose to 2.7% in May, more than expected, Fed’s preferred gauge shows

June 28, 20250
Earnings

Nike says tariffs will cost it $1 billion before price increases, supply chain shifts

June 28, 20250
Business

Nike stock soars 17% after CEO soothes investors, says recovery is on the horizon

June 28, 20250
Finance

Zohran Mamdani’s victory in NYC mayoral primary leaves Wall Street ‘alarmed’ and ‘depressed’

June 26, 20250
Load more
© 2023, All Rights Reserved.
  • About Us
  • Advertise With Us
  • Contact Us
  • Disclaimer
  • Cookie Law
  • Privacy Policy
  • Terms & Conditions