Trump Media & Technology Group The shares went back by about 1% on Friday after the operator of Truth Social had released its results from 2024.
Here is how the corporate was carried out:
- Income: Loss of $ 2.36 per share
- Revenue: 3.6 million US dollars
According to its 12%, the corporate's turnover decreased in comparison with the previous yr Annual report. The company recorded the online lack of $ 58.2 million in 2023 to $ 400.9 million.
Trump Media debut last March within the Nasdaq under the ticker “DJT” and accomplished his merger with the Digital World Acquisition Corp. The share almost doubled in 2024 with its namesake Donald Trump and won the US presidential elections in November. Until the tip of Friday, the share had decreased by 11% so far to realize a market capitalization of $ 6.59 billion.
In 2024 Trump Media caused because of the incapacity of the previous President Bidens Securities and Exchange Commission for Fusion -related legal costs, so A opinion. A change in an income agreement with an promoting partner led to lower sales. “In addition, sales are different, since we selectively test an emerging advertising in our social platform of truth,” said the corporate within the annual report.
As against Meta And other social media firms, Trump Media Management said within the submission that they aren’t used to traditional metrics similar to the variety of lively users or average income per user. This “could possibly focus on the strategic evaluation of the progress and growth of its business,” said the submission.
Trump Media within the fourth quarter announced The availability of its truth+ video streaming service on Android, iOS and the net.
The company has not held a profit call for the reason that merger.
From Friday, a trust by which President Trump is the one favorite has 52% of the corporate's voting authority, in accordance with the registration.
Trump publishes contributions to Truth Social, where he has 8.9 million followers. Trump has 100.9 million supporters on X, owned by the Tesla CEO Elon Musk, who helped the federal government of the Trump government.
Trump Media now has $ 776.8 million in money, money equivalents and short -term investments with debts of $ 9.6 million.
“We will continue to research the opportunities to work together, acquire other companies, to acquire with and acquire that are able to work effectively when TMTG developed into a holding company with subsidiaries about several industries” within the statement.
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