Business
Trump Media Reports $238 Million Loss in Q2 Due to Decline in Digital Assets
The parent company of Truth Social, TMTG, experienced a dramatic increase in losses, reporting over 10 new customer agreements for its Truth API service.
Trump Media & Technology Group (TMTG) reported a loss of $238 million for the second quarter, a significant increase from the $20 million loss recorded during the same period last year, according to multiple reports.
The company cited a decline in digital assets and noted it has signed more than ten customer agreements for its Truth API service, which provides faster access to posts from former President Donald Trump. TMTG indicated a shift in focus towards its social media offerings amid these financial challenges.