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Trump Media Suffers Massive Loss as CEO Shifts Focus to Truth Social

Guavy AI Editorial Team
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Trump Media & Technology's latest financial report shows an alarming loss of $238 million in the second quarter, more than ten times higher than the same period last year.

The company's revenue increased by almost 90% to $1.7 million during this time, but its operating loss rose from $44 million to $164 million on an adjusted basis.

New CEO Kevin McGurn announced a strategic shift in response to these numbers, stating that the company will focus on its Truth Social platform and largely abandon business areas such as online betting and cryptocurrencies.

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