Trump Media Triples Q3 Revenue to $3 Million as Truth API Subscriptions Drive Growth
Updated
Updated · The Washington Post · Nov 10
Trump Media Triples Q3 Revenue to $3 Million as Truth API Subscriptions Drive Growth
1 articles · Updated · The Washington Post · Nov 10
Summary
$3 million in third-quarter revenue marked a threefold increase from a year earlier for Trump Media & Technology Group, with management pointing to paid subscriptions as the main driver.
$1.8 million of that came from Truth+ and Truth API, a service launched in August that sells instant access to Trump’s Truth Social posts and has already drawn legal questions.
$409.7 million in net income contrasted with a $12.3 million core operating loss, as most reported profit came from $496.1 million in noncash gains on cryptocurrency and stock holdings.
$2.5 billion in total assets gives the company room as it approaches a Dec. 14 shareholder vote on its $6 billion merger with fusion firm TAE Technologies and possible redemptions from a $1 billion bond offering.
The results arrive as Trump Media’s stock hit a record low after Democrats won both chambers of Congress and pledged to investigate Trump’s businesses, underscoring how closely the company still trades with politics.