Truth Social Reports US$58 Million Loss, Shares Decrease for Trump's Company

According to the reports, TMTG experienced significant losses and saw a decline in revenue compared to the previous year. All of the company's revenue came from advertising, which amounted to $751,000 in the final quarter of the year. This resulted in a substantial loss of approximately $58.2 million for the year. The poor financial results led to a significant drop in the stock price, with shares falling by 21.5% and the value of Donald Trump's stake in Truth Social decreasing by over $1 billion. In contrast, TMTG reported profits of $50.5 million in 2022 and sales of over $4.13 million. The company began trading on the Nasdaq under the ticker symbol DJT after merging with a blank-check company. Trump is currently facing mounting legal penalties and court costs as he deals with four criminal indictments and various civil cases.