President Trump’s media firm reported reduced losses in the initial three months of the year and indicated that its current cash reserves will offer enough financial cushion for pursuing its growth objectives.
In the March quarter, Trump Media and Technology reported a loss of $31.7 million, equivalent to 14 cents per share, as opposed to a previous loss of $327.6 million, or $3.61 per share, from the same period last year. The prior-year quarter featured a $225.9 million expense related to interest costs.
Revenue for the March quarter rose to $821,200 from $770,500 a year earlier.
The firm stated that throughout the latest quarter, they maintained their emphasis on enhancing current platforms and expanding into financial services. They highlighted the launch of their new venture, the Truth.Fi fintech and financial services label, along with collaborations such as those with Crypto.com and Yorkville America Digital. These partnerships were aimed at creating a range of tailored exchange-traded funds and offerings.
At the end of the quarter, Trump Media had $759 million in cash, cash equivalents, and short-term investments. The firm stated that this level of liquidity, along with its minimal operational expenses and low cash depletion rate, positions it well to proceed with growth initiatives and explore possible mergers and acquisitions moving ahead.
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