Second quarter revenues for Trump Media, the money laundering operation that operates Truth Social, fell by 30% compared to the same quarter last year, resulting in a net loss of $16.37 million over the quarter, CNBC reports. The company reported $839,000 in revenue, versus $1.2 million in the same quarter in 2023.
Trump Media closed Friday at $26.21, far below its 52-week high of $79.38. The second quarter’s performance, while unsustainable, was still a significant improvement from the first quarter when it reported a net loss of $327.6 million because it wrote off “noncash expenses.”