00:00It's Benzinga, bringing Wall Street to Main Street
00:02Trump Media and Technology Group reported a second quarter net loss of more than $238
00:07million on revenue of $1.7 million, compared with a loss of nearly $20 million a year earlier,
00:14according to CNBC. The loss was primarily driven by declines in non-cash assets,
00:19including more than $190 million in losses tied to digital assets and equity securities.
00:24Trump Media generated $1.7 million in quarterly revenue,
00:27mostly from Truth Social Advertising Services, up 89% year-over-year. Operating expenses rose about
00:33275% year-over-year to more than $165 million, largely due to digital asset price volatility.
00:40Trump Media said its Truth API has signed more than 10 customer agreements,
00:44primarily with high-frequency trading firms paying $60,000 to $100,000 per month. The company is also
00:50focusing on its pending merger with fusion energy firm TAE. Shares closed down 8% Monday.
00:55For all things money, visit Benzinga.com.
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