Trump Media posts $55M Q3 loss as Bitcoin bet reaches $1.3B
Trump Media’s first earnings report after starting its Bitcoin buys shows it scooped up $1.3 billion, with the company saying it plans to buy more.
Trump Media and Technology Group’s Bitcoin holdings weren’t enough to prop up it’s balance sheet, as the company reported a $54.8 million loss in its third-quarter earnings as it was pinched with rising costs.
The Trump-tied company, which operates the Truth Social social media platform, shared on Friday that its Q3 net loss widened from the $19.3 million in losses compared to the same time last year.
The company reported revenues of $972,900, down from over $1 million a year ago. Shares in Trump Media (DJT) ended trading on Friday down 1.73% to $13.10, seeing a small bump after-hours to $13.20.
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