Donald Trump’s Media Company Reports 2023 Revenue Of $4M And $58M In Losses; Stock Drops 25%
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deadline.comTrump Media & Technology Group, the newly formed company whose assets include nascent social media platform Truth Social, has reported 2023 revenue of $4.1 million and a net loss of $58.2 million.
The full-year figures were disclosed in new SEC filings Monday. Investors pounced on the numbers, sending shares in the newly formed company down more than 25% in mid-day trading.
The stock’s movement is being watched closely because the company’s majority shareholder is Donald Trump, the former president who is poised to become this year’s Republican presidential nominee.
Last week’s public stock debut of Trump’s company, which was created via a SPAC merger, gave Trump a paper windfall of more than $5 billion at a critical juncture.
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