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Trump Media reports $16 million loss for quarter as revenue falls
Donald Trump, the majority owner of Trump Media, often uses its Truth Social app as he campaigns as the Republican presidential nominee.
This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. About half of the loss for the past quarter was due to legal expenses related to Trump Media's merger with Digital World Acquisition Corp., the company said. "A significant portion of the decrease was attributable to a change in the revenue share with one of our advertising partners, in connection with an agreement intended to improve the Company's short-term, pre-Business Combination financial position," Trump Media said in its 10-Q filing.
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