MW Trump Media reports narrower loss, sales gain in first quarter of Trump 2.0 era
By Bill Peters
The company wants to 'expand robustly throughout the America First economy'
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 $(DJT)$, 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 company noted it had $10.9 million in legal fees, which included costs related to its merger last year with a special-purpose acquisition company, or SPAC.
Shares were up 0.4% after hours. As of the close of trading Friday, Trump Media's stock has fallen 51.2% over the past 12 months, and 27% this year to date.
Over the first quarter, the company said, it had introduced the Truth.Fi fintech brand, and struck partnerships intended to create exchange-traded funds and other financial services with "America First themes." The company added that it was weighing expansion through mergers and acquisitions, and said it was readying the launch of a subscription service called 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.
-Bill Peters
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May 09, 2025 19:14 ET (23:14 GMT)
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