financetom
Business
financetom
/
Business
/
Trump Media reports $19 mln loss in third quarter on TV streaming costs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump Media reports $19 mln loss in third quarter on TV streaming costs
Nov 9, 2024 11:07 AM

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)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Enviri's Harsco Environmental Signs $150 Million Contract With Jindal to Expand in India
Enviri's Harsco Environmental Signs $150 Million Contract With Jindal to Expand in India
Oct 15, 2025
08:58 AM EDT, 10/15/2025 (MT Newswires) -- Enviri ( NVRI ) division Harsco Environmental said Wednesday it is expanding its operations in Jajpur, Odisha, India, through a 15-year, $150 million contract signed with Jindal Stainless. The contract includes extending the companies' existing agreement to process stainless steel slag for another 10 years and building an additional wet milling plant to...
AVIA acquires Panda Health
AVIA acquires Panda Health
Oct 15, 2025
Joint organization combines healthcare technology intelligence and peer insights – created by health systems, for health systems. CHICAGO, Oct. 15, 2025 /PRNewswire/ -- AVIA today announced the acquisition of Panda Health, a strategic move that will expand their AVIA Marketplace platform and will further support healthcare providers with their digital health strategies. Kristen Flint, current CFO of Panda Health,...
Sector Update: Consumer
Sector Update: Consumer
Oct 15, 2025
08:59 AM EDT, 10/15/2025 (MT Newswires) -- Consumer stocks were advancing premarket Wednesday, with the Consumer Staples Select Sector SPDR Fund (XLP) 0.2% higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.6%. Dollar Tree ( DLTR ) shares were up more than 7% after the company reiterated its fiscal Q3 and 2025 outlooks, and outlined its long-term...
Bonterra Expands Suite of Fundraising Offerings with Acquisition of OneCause
Bonterra Expands Suite of Fundraising Offerings with Acquisition of OneCause
Oct 15, 2025
AUSTIN, Texas--(BUSINESS WIRE)-- Bonterra™, a social good software company creating technology for the greatest good, today announced it has acquired OneCause, a leading digital fundraising solutions company that helps nonprofits improve the giving experience and raise more money. Together, they will combine forces to create the most powerful fundraising and engagement platform on the market. With the integration of OneCause...
Copyright 2023-2026 - www.financetom.com All Rights Reserved