Losses in 2023 for Trump Media & Technology Group — whose flagship product is Truth Social — mark a stark decline compared with its profit of $50.5 million in 2022.
NEW YORK — Less than a week after a flashy stock market debut, Donald Trump’s social media company on Monday disclosed that it lost nearly $58.2 million last year, sending its stock tumbling more than 21%.
Losses in 2023 for Trump Media & Technology Group — whose flagship product is Truth Social — mark a stark decline compared with the profit of $50.5 million that the former president’s company reported for 2022, according to a company filing with securities regulators.
Revenue for Trump Media came in at $4.1 million in 2023, the SEC filing shows, although that’s up from $1.5 million in 2022.
After merging with a blank-check companycalled Digital World Acquisition Corp., Trump Media began trading March 26 on the Nasdaq stock market …
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