Trump Media & Technology increased its revenue by almost 90 percent in the second quarter, while its loss was more than ten times higher than a year earlier. The company’s new CEO has therefore announced a strategic shift.
Following the heavy loss, his company plans to invest less in cryptocurrency. (Image: Shutterstock)
Tuesday, 11 August 2026 07:50
Trump Media & Technology said on Monday that it recorded a loss of 238 million dollar in the three months to the end of June. That was more than ten times the 20 million dollar loss reported in the same period a year earlier. New business areas are to be largely abandoned, while the company will refocus on its Truth Social platform, new CEO Kevin McGurn said in a statement.
Trump Media will return its focus to social media and largely withdraw from business areas such as online betting and cryptocurrencies, McGurn said.
