Social Trumps Truth Social made 4 million and lost 58 million in 2023.

[Barteh]

It has never gone beyond a niche app status. It was never a serious competitor to Twitter, with or without Musk. Truth Social is practically a fan club, with the traffic of a right wing forum on Reddit. Musk's involvement with Twitter really had no bearing on TS's success. Twitter is so huge and untouchable, Facebook couldn't even make a dent in it with "Threads" and their built in user base. It would take more than a few miracles for a start up to compete. It's like trying to take on Youtube.

This, I think it's also just for nerds who want to discuss politics. People weren't really using it for any general stuff, posting about sports, entertainment and other stuff.

 

[HOLA]

New quarterly earnings are out.

They had a 19% year-over-year drop in average daily active US users on iOS and Android to just 113,000.

They made $770,500 in revenues.

They had operating earnings of -$12.1 million.

They had net income of -$328 million.

 

[Siver!]

New quarterly earnings are out.

They had a 19% year-over-year drop in average daily active US users on iOS and Android to just 113,000.

They made $770,500 in revenues.

They had operating earnings of -$12.1 million.

They had net income of -$328 million.

Trump’s Truth Social media company posts $327m first-quarter loss

Trump Media and Technology Group, which owns Truth Social, says focus is ‘long-term product development’ rather than revenue

www.theguardian.com

Trump Media and Technology Group, the owner of Donald Trump’s social networking site Truth Social, lost more than $300m last quarter, according to its first earnings report as a publicly traded company.
For the three-month period that ended 31 March, the company posted a loss of $327.6m, which it said included $311m in non-cash expenses related to its merger with a company called Digital World, which was essentially a pile of cash looking for a target to merge with.
It’s an example of a special purpose acquisition company, or Spac, which can give young companies quicker and easier routes to getting their shares trading publicly.
A year earlier, Trump Media posted a loss of $210,300.
Trump Media said collected $770,500 in revenue in the first quarter, largely from its “nascent advertising initiative”. That was down from $1.1m a year earlier.
“At this early stage in the company’s development, TMTG remains focused on long-term product development, rather than quarterly revenue,” Trump Media said in its earnings news release.
Earlier this month, the company fired an auditor that federal regulators recently charged with “massive fraud”. The former president’s media company dismissed BF Borgers as its independent public accounting firm on 3 May, delaying the filing of the quarterly earnings report, according to a securities filings.
Trump Media had previously cycled through at least two other auditors – one that resigned in July 2023, and another that was terminated by the board in March, just as it was rehiring BF Borgers.
Shares of Trump Media climbed 36 cents to $48.74 in after-hours trading. The stock, which trades under the ticker symbol “DJT”, began trading on Nasdaq in March and peaked at nearly $80 in late March.

--

Had to check out the reasons for such a loss for TMTG, and apparently it's down to a merger.

No worries, the platform will likely continue to hemorrhage users and money on a smaller scale lol

 

[44nutman]

New quarterly earnings are out.

They had a 19% year-over-year drop in average daily active US users on iOS and Android to just 113,000.

They made $770,500 in revenues.

They had operating earnings of -$12.1 million.

They had net income of -$328 million.

They will be doing specials on Netflix about how much of a scam going public with Truth Social actually was.

 

[44nutman]

Trump’s Truth Social media company posts $327m first-quarter loss

Trump Media and Technology Group, which owns Truth Social, says focus is ‘long-term product development’ rather than revenue

www.theguardian.com

Trump Media and Technology Group, the owner of Donald Trump’s social networking site Truth Social, lost more than $300m last quarter, according to its first earnings report as a publicly traded company.
For the three-month period that ended 31 March, the company posted a loss of $327.6m, which it said included $311m in non-cash expenses related to its merger with a company called Digital World, which was essentially a pile of cash looking for a target to merge with.
It’s an example of a special purpose acquisition company, or Spac, which can give young companies quicker and easier routes to getting their shares trading publicly.
A year earlier, Trump Media posted a loss of $210,300.
Trump Media said collected $770,500 in revenue in the first quarter, largely from its “nascent advertising initiative”. That was down from $1.1m a year earlier.
“At this early stage in the company’s development, TMTG remains focused on long-term product development, rather than quarterly revenue,” Trump Media said in its earnings news release.
Earlier this month, the company fired an auditor that federal regulators recently charged with “massive fraud”. The former president’s media company dismissed BF Borgers as its independent public accounting firm on 3 May, delaying the filing of the quarterly earnings report, according to a securities filings.
Trump Media had previously cycled through at least two other auditors – one that resigned in July 2023, and another that was terminated by the board in March, just as it was rehiring BF Borgers.
Shares of Trump Media climbed 36 cents to $48.74 in after-hours trading. The stock, which trades under the ticker symbol “DJT”, began trading on Nasdaq in March and peaked at nearly $80 in late March.

--

Had to check out the reasons for such a loss for TMTG, and apparently it's down to a merger.

No worries, the platform will likely continue to hemorrhage users and money on a smaller scale lol

How many companies worth 7 billion based on share price put up those kind of numbers.
Soon Trump will have to figure out a new way to launder foreign money.

 

[nixkid]

New quarterly earnings are out.

They had a 19% year-over-year drop in average daily active US users on iOS and Android to just 113,000.

They made $770,500 in revenues.

They had operating earnings of -$12.1 million.

They had net income of -$328 million.

Don't worry, guys. Its just MAGA accounting to minimize taxes. They are actually quite profitable. Some say the most profitable even.

 

[44nutman]

The question is does Russia bail this turd of a stock out again or do they let it die a slow death.

 

[Berserker13]

New quarterly earnings are out.

They had a 19% year-over-year drop in average daily active US users on iOS and Android to just 113,000.

They made $770,500 in revenues.

They had operating earnings of -$12.1 million.

They had net income of -$328 million.

Winning

 

[HOLA]

They will be doing specials on Netflix about how much of a scam going public with Truth Social actually was.

It's basically a Go Fund Me for political bribery. Funnel money to Trump and get favorable legislation if he wins (or other favors). Trump cultists purchasing shares, believing they're buying into an actual business with any prospects, are going to learn what everyone else already knows: Trump can't successfully run any business...except grifting rubes.

 

[44nutman]

It's basically a Go Fund Me for political bribery. Funnel money to Trump and get favorable legislation if he wins (or other favors). Trump cultists purchasing shares, believing they're buying into an actual business with any prospects, are going to learn what everyone else already knows: Trump can't successfully run any business...except grifting rubes.

The scary thing for Truth Social is the user drop. It is the only Social Media site Trump is on and they are losing almost 1/5th of their users in a year.

 

[LeonardoBjj]

This, I think it's also just for nerds who want to discuss politics. People weren't really using it for any general stuff, posting about sports, entertainment and other stuff.

- My cat is asking the name of that app.

 

[LeonardoBjj]

Trump Media and Technology Group posts more than $300 million net loss in first public quarter​

SARASOTA, Fla. (AP) — Trump Media and Technology Group, the owner of former President Donald Trump’s social networking site Truth Social, lost more than $300 million last quarter, according to its first earnings report as a publicly traded company.

For the three-month period that ended March 31, the company posted a loss of $327.6 million, which it said included $311 million in non-cash expenses related to its merger with a company called Digital World Acquisition Corp., which was essentially a pile of cash looking for a target to merge with. It’s an example of what’s called a special purpose acquisition company, or SPAC, which can give young companies quicker and easier routes to getting their shares trading publicly.

A year earlier, Trump Media posted a loss of $210,300.

Trump Media said collected $770,500 in revenue in the first quarter, largely from its “nascent advertising initiative.” That was down from $1.1 million a year earlier.

“At this early stage in the Company’s development, TMTG remains focused on long-term product development, rather than quarterly revenue,” Trump Media said in its earnings news release.

Earlier this month, the company fired an auditor that federal regulators recently charged with “massive fraud.” The former president’s media company dismissed BF Borgers as its independent public accounting firm on May 3, delaying the filing of the quarterly earnings report, according to a securities filings.

Trump Media had previously cycled through at least two other auditors — one that resigned in July 2023, and another that was terminated its the board in March, just as it was re-hiring BF Borgers.

Shares of Trump Media climbed 36 cents to $48.74 in after-hours trading. The stock, which trades under the ticker symbol “DJT,” began trading on Nasdaq in March and peaked at nearly $80 in late March.

https://apnews.com/article/trump-media-earnings-0ee9a4598f7da6c217720445605dfbdd

- Aint surprised Trump hates Mexicans. When a luchador has to live up to his word, thats makes Trump disgusted.

 

[LeonardoBjj]

The scary thing for Truth Social is the user drop. It is the only Social Media site Trump is on and they are losing almost 1/5th of their users in a year.

- Maybe that's the reason?

Her is funny and all. But see him re-hash the same four or five reasons he lost the elections, people get bored. He isnt Hulk Hogan.

 

[Satsui Ryu]

This, I think it's also just for nerds who want to discuss politics. People weren't really using it for any general stuff, posting about sports, entertainment and other stuff.

Nah. It started out as a blog for Trump when he was banned from Twitter and it turned into a pump and dump scheme to circumvent campaign funding laws.

 

[HOLA]

Nah. It started out as a blog for Trump when he was banned from Twitter and it turned into a pump and dump scheme to circumvent campaign funding laws.

The blog was something different. "From The Desk of Donald Trump." It had 159,000 social media interactions its first day. Few days later it was down to 15,000 and declining. Trump rage-quit and shut it down after a month.