Donald Trump’s social-media business lost more than $58 million last year as revenue for the former president’s Truth Social platform trickled in, contrasting sharply with the company’s rocketing share price.
Trump Media & Technology Group Corp. generated just $4.1 million in revenue for the full year, results reported in a filing Monday morning show, providing an update on the stock that closed its blank-check deal last week. Despite the modest financials, the company was worth about $7.5 billion even after an 11% drop in early trading, as the meme stock continued to captivate retail traders.
