Nov 5 (Reuters) - Former U.S. President Donald Trump's
media company reported a net loss of $19.2 million in the third
quarter, due to legal fees and costs tied to its TV streaming
deal.
Trump Media & Technology Group ( DJT ) said the figure
includes $12.1 million in legal fees in the quarter, stemming
from its acquisition of TV streaming technology in August and
residual fees related to its SPAC deal in March.
It also reported $3.9 million in research and development
spend.
Shares of the company reversed earlier losses in extended
trading and were last trading about 2% higher.
The report comes as the U.S. presidential election is in the
final stretch, with polls showing Trump and current vice
president Kamala Harris running neck and neck, as the world
awaits the results of one of the most unusual elections in
modern U.S. history.
Shares of Trump Media ( DJT ), which operates the Truth Social media
platform, have seen wild swings in recent days with the stock
serving as something of a proxy for Trump's chances of election.
Trump Media ( DJT ) said its revenue was $1 million for the quarter
ended September and had cash and cash equivalents of $672.9
million, including short-term investments, with no debt.
(Reporting by Deborah Sophia in Bengaluru; Editing by Anil
D'Silva)