Trump Media Reports $409.7 Million Profit After $54.8…
By Abdelaziz Fathi
AI summary of the source article
Trump Media & Technology Group reported a $409.7 million third-quarter profit, reversing a year-earlier loss of $54.8 million. The swing was primarily driven by Bitcoin and digital asset gains, while company revenue totaled $3 million and adjusted EBITDA remained negative.
Why it matters
Quarterly earnings are now highly exposed to changes in Bitcoin prices and the valuation of related securities, meaning future results could move sharply in either direction without a similar change in revenue.
Key facts
- Trump Media posted a $409.7 million Q3 profit, driven by $496.1 million in net gains across digital assets and securities on $3 million in revenue.
- The company held approximately 15,649 BTC and seven million shares of BlackRock's iShares Bitcoin Trust at the end of September.
- Truth API, an institutional data feed service, and Truth+ contributed $1.8 million to quarterly revenue growth.
Source excerpt · FinanceFeeds
Trump Media & Technology Group swung to a $409.7 million third-quarter profit from a $54.8 million loss a year earlier, but the reversal was driven overwhelmingly by gains on Bitcoin and other financial assets rather than the operating performance of Truth Social and its related businesses. The company generated just $3 million of revenue in the three months ended September 30, up 205% year over y…