Trump Media loses $19.2 million in third quarter, surprise Election Day filing reveals

Trump Media loses .2 million in third quarter, surprise Election Day filing reveals


Republican presidential nominee and former U.S. President Donald Trump speaks at a campaign town hall meeting in Lancaster, Pennsylvania, on Oct. 20, 2024.

Brian Snyder | Reuters

Trump Media, which experienced a flurry of trading activity Tuesday as a possible proxy for Donald Trump’s presidency chances, revealed after the closing bell Tuesday a loss for the third quarter along with a slight drop in already-meager revenue.

The Truth Social parent lost $19.2 million during the period. Revenue fell 5.6% to just $1.01 million from the year-earlier period. The filing was not telegraphed to investors beforehand and came as a surprise to traders not expecting it on Election Day, the very day the former president and Trump Media majority owner squares off against Vice President Kamala Harris.

Shares were slightly higher in after-hours trading following the filing. Earlier in the day, the stock gave up an 18.6% surge to close 1.2% lower. The shares could move in the after hours or on Wednesday depending on the election results.

Trump Media, which trades under the ticker DJT, has seen volatile trading lately. Over the past week, it is down more than 34%. However, it is still up 93% year to date.

Volume in the name on Tuesday more than doubled its average 30-day volume.

Trump Media also reported about $2.6 million in revenue and a net loss of $363 million for the first nine months of 2024. On top of that, the company boasted that it ended the third quarter with $673 million in cash and investments, along with no debt.

“This has been an extraordinary quarter for the Company,” CEO Devin Nunes said in a statement. Trump Media is continuing to “explore additional possibilities for growth.”

— Additional reporting by CNBC’s Kevin Breuninger

Don’t miss these energy insights from CNBC PRO:



Source

CNBC Daily Open: Certainty of ‘reciprocal’ tariffs better than confusing legal tussle
World

CNBC Daily Open: Certainty of ‘reciprocal’ tariffs better than confusing legal tussle

A large number of commercial vehicles were assembled at Yantai Port for shipment and export overseas in Yantai City, Shandong Province, China, on April 24, 2025. CFOTO | Future Publishing | Getty Images A U.S. federal trade court striking down President Donald Trump’s “reciprocal” tariffs on a broad swathe of countries seems, on the surface, […]

Read More
Shein’s embattled IPO signals mounting troubles for fast fashion giant
World

Shein’s embattled IPO signals mounting troubles for fast fashion giant

Bus stop advertising for Chinese fashion company Shein on 4th May 2025 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images Fast fashion giant Shein’s troubles continue to mount after its much anticipated London initial public offering (IPO) reportedly hit a fresh roadblock. The e-commerce behemoth is now aiming for a Hong […]

Read More
South Korea’s Hybe opens China office amid hopes of a K-pop reversal from Beijing
World

South Korea’s Hybe opens China office amid hopes of a K-pop reversal from Beijing

The Hybe Building in Seoul, South Korea. Sopa Images | Lightrocket | Getty Images South Korea’s largest K-pop agency Hybe has established its first office in China — amid signs that Beijing is lifting its unofficial ban on K-pop shows. The agency behind global sensation BTS has been preparing to establish itself in China since last […]

Read More