Trump Media swings to quarterly profit; Truth API boosts revenue
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Trump Media reported a quarterly profit of $409.7 million, a big jump from last year’s loss.
- ✓Revenue soared 205% to $3.0 million by September 30, helped by the new Truth API.
- ✓Interim CEO Kevin McGurn said, "While the market was trading on headlines, the underlying business didn't flinch." Shares rose 1%.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Reuters
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Shares of the company rose about 1% in extended trading.
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Founded by US President Donald Trump and known for its Truth Social platform, Trump Media & Technology Group has increasingly sought to transform itself from a social media company into a broader technology and investment business.
The company, which is in the process of merging with TAE Technologies in a pivot toward fusion energy, reiterated that the $6-billion deal would close in the current quarter.
Earlier this year, Trump Media launched Truth API, describing it as a subscription-based data feed that provides licensed, low-latency access to publicly available Truth Social posts.
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