Trump Media posts $238 million loss and shifts focus back to social media
Trump Media reported a $238 million quarterly loss as falling crypto holdings weighed on results and the company outlined a renewed push into social media.
Trump Media said it lost $238 million in the latest quarter, with weaker cryptocurrency holdings helping drive the result, according to company disclosures released on Monday. The shares fell after the update, touching a two-week low.
The company said it plans to put more emphasis on its social media business. That includes a plan to offer faster access to posts from Donald Trump, according to the firm.
The latest figures add to a run of losses for the company, which has been trying to broaden its business beyond its core platform. Investors have also been watching the value of its crypto-related assets closely.
The results and the strategic shift were reported as Trump Media continued to face pressure from market swings in digital assets and from the performance of its main media operations.
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