Trump Media Company Reports Massive Loss and Announces New Turnaround Efforts
- Trump Media & Technology reported a loss of $238 million in the second quarter, significantly higher than the previous year's loss.
- The company plans to abandon new business ventures and refocus on its social media platform, Truth Social.
- The per-share loss increased to 86 cents from 8 cents year-over-year.
- The company is launching a service called Truth API to provide early access to posts from top users, including Donald Trump.
- Trump Media's stock fell slightly in after-hours trading following the earnings report.
Trump Media & Technology, the company behind the Truth Social platform, announced a significant loss of $238 million for the second quarter, which is more than ten times the loss reported a year earlier. The per-share loss widened to 86 cents from 8 cents, prompting a strategic shift in the company's operations.
In a conference call, CEO Kevin McGurn stated that the company would abandon its expansion into unrelated business areas, such as cryptocurrency and online betting, to refocus on its core mission of social media. He emphasized the need for a disciplined approach to prioritize key initiatives.
One of the new initiatives is the Truth API service, which will charge clients between $60,000 and $100,000 a month for early access to posts from popular users, including Donald Trump. The company has already secured ten customers, primarily high-frequency trading firms, which could generate significant revenue for Trump Media in the future.
特朗普媒体公司报告巨额亏损并宣布新的转型计划
特朗普媒体技术公司，即Truth Social平台的背后公司，宣布第二季度亏损2.38亿美元，远超去年同期的亏损。每股亏损从0.08美元扩大至0.86美元，这促使公司在运营上进行战略调整。
在一次电话会议中，首席执行官凯文·麦戈恩表示，公司将放弃对加密货币和在线博彩等无关业务的扩展，重新聚焦于其社交媒体的核心使命。他强调需要采取有纪律的方式来优先考虑关键举措。
其中一项新举措是Truth API服务，该服务将向客户收取每月6万到10万美元的费用，以提前访问热门用户的帖子，包括唐纳德·特朗普。公司已经获得了十个客户，主要是高频交易公司，这可能为特朗普媒体未来带来可观的收入。