Trump Media Reports $409.7 Million Third-Quarter Profit

Trump Media & Technology Group reported a third-quarter profit of $409.7 million, reversing a $54.8 million net loss from the previous year. The company attributed this net income primarily to gains on cryptocurrency holdings and related securities.

Revenue for the quarter ending September 30 rose 205 percent to $3.0 million. This growth was driven by the Truth+ streaming platform and the Truth API data-licensing business, which together generated $1.8 million in subscription revenue. The Truth API provides high-speed access to Truth Social posts for clients such as Bloomberg, Susquehanna International Group, and Jump Trading.

Interim CEO Kevin McGurn stated that the underlying business did not flinch while the market traded on headlines, noting that product traction did not reverse and the balance sheet remained unchanged between Tuesday and Wednesday. Despite the profit, the company's shares have declined nearly 70 percent this year. Trump Media is currently pursuing a $6-billion merger with TAE Technologies to pivot toward fusion energy, a deal expected to close in the current quarter.