Truth Social parent Trump Media posts third straight quarterly loss

Former President Donald Trump’s media company reported a nett nonaccomplishment of $19.2 cardinal successful nan 3rd quarter, owed to ineligible fees and costs tied to its TV streaming deal.

Trump Media & Technology Group said nan fig includes $12.1 cardinal successful ineligible fees successful nan quarter, stemming from its acquisition of TV streaming exertion successful August and residual fees related to its SPAC woody successful March. It was nan company’s 3rd consecutive quarterly nonaccomplishment since going nationalist successful March.

It besides reported $3.9 cardinal successful investigation and improvement spend.

Trump Media, genitor of Truth Social reported a nett nonaccomplishment of $19.2 cardinal successful nan 3rd quarter, owed to ineligible fees and costs tied to its TV streaming deal. AFP via Getty Images

Shares of nan institution reversed earlier losses successful extended trading and were past trading astir 2% higher.

The study comes arsenic nan statesmanlike predetermination is successful nan last stretch, pinch polls showing Trump and existent Vice President Kamala Harris moving cervix and neck, arsenic nan world awaits nan results of 1 of nan astir different elections successful modern US history.

Shares of Trump Media, which operates nan Truth Social media platform, person seen wild swings successful caller days pinch nan banal serving arsenic thing of a proxy for Trump’s chances of election.

Shares of Trump Media, which operates nan Truth Social media platform, person seen chaotic swings successful caller days. AFP via Getty Images

Trump Media said its gross was $1 cardinal for nan 4th ended September and had rate and rate equivalents of $672.9 million, including short-term investments, pinch nary debt.