By Connor Hart
President Trump's media company narrowed its loss in the first quarter and said its cash on hand should provide it with the necessary runway to tackle its expansion plans.
Trump Media and Technology logged a loss of $31.7 million, or 14 cents a share, in the March quarter, compared with a loss of $327.6 million, or $3.61 a share, a year earlier. Last year's quarter included a $225.9 million charge tied to interest expenses.
Revenue for the March quarter rose to $821,200 from $770,500 a year earlier.
The company said it continued its focus on improving its existing platforms and diversifying into financial services during the recent quarter, in part citing the introduction of its Truth.Fi fintech and financial services brand, as well as its partnership with Crypto.com and Yorkville America Digital to develop a slate of customized exchange-traded funds and products.
Trump Media ended the quarter with $759 million of cash, cash equivalents and short-term investments. It said this liquidity, coupled with the company's low operating costs and cash burn rate, will allow it to continue work on its expansion plans and pursue potential mergers and acquisitions going forward.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 09, 2025 17:51 ET (21:51 GMT)
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