Trump Media Posts $238M Loss as Bitcoin Portfolio Weighs on Results
Trump Media and Technology Group (DJT) has reported a net loss of $238.1 million for the second quarter, largely due to a sharp decline in the value of its digital asset and securities portfolio.
The company's revenue rose 89% to $1.67 million, up from $883,300 a year earlier, driven by advertising deals, subscriptions to the Truth+ Patriot Package, and management fees from Truth.Fi funds.
However, this growth was overwhelmed by the investment losses, which totaled $190.4 million, accounting for the bulk of the shortfall.
The company's Bitcoin holdings carried a fair value of approximately $557.1 million at the end of June, against a cost basis of roughly $1.01 billion, reflecting the gap between purchase prices and market values during the quarter.