Trump Media reports Q3 profit and revenue surge, shares jump over 20%
Trump Media & Technology Group announced a net income of $409.7 million for the third quarter, reversing a loss of $54.8 million a year earlier. Revenue rose to $3 million, a 205 % increase year‑over‑year, driven mainly by the new Truth API subscription service. The interim CEO said the company is moving toward a merger with TAE Technologies, which it expects to close before year‑end, pending normal approvals. The earnings release also highlighted large Bitcoin holdings that contributed to profit, while noting political and market risks.
Why it matters
The profit swing and revenue growth could improve the company’s cash position and support the pending merger, potentially affecting shareholder value. Analysts note that the earnings boost may sustain the recent share rally, but the company faces uncertainty from political investigations and Bitcoin price volatility.
Key facts
- 1Net income for Q3 was $409.7 million, up from a $54.8 million loss in the same quarter last year. finance.yahoo.com
- 2Revenue for Q3 was $3 million, a 205 % increase from $972,900 a year earlier. finance.yahoo.com
- 3The company holds 15,649 Bitcoin, making it the ninth‑largest Bitcoin holder worldwide. invezz.com
- 4Shares rose 21.26 % to $5.19 after the earnings release. finance.yahoo.com
- 5The merger with TAE Technologies is targeted for completion before the end of the year, subject to customary closing conditions. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.