Trump Media & Technology (DJT), a parent company owned by former President Donald Trump, recently reported another quarterly loss with revenue failing to reach $1 million once again. Despite this, DJT stock saw a slight increase after the close.
Majority owned by the former president, Trump Media posted an adjusted EBITDA loss of $12.1 million, with over half of that amount attributed to one-time payments associated with the closure of its SPAC merger with Digital World Acquisition Corp. Revenue for the company was just $770,500, marking the second consecutive quarter below the $1 million mark. Trump Media also reported a GAAP loss of $327.6 million, primarily due to $311 million in non-cash expenses related to converting promissory notes and eliminating past liabilities. However, the company believes it has adequate working capital to support its operations for the foreseeable future.
Overnight trading saw a small increase in DJT stock shares following their decline by 5% to 48.38, marking the fourth consecutive decrease. For stock market updates and more information, follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD\_ECarson.
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In summary, despite reporting another quarterly loss with revenue failing to reach $1 million once again, DJT stock saw a slight increase after the close following its recent decline by 5%. For those interested in growth stocks and investing decisions
