CNBC has Q2 earning for Trump Media here — “same as it ever was”.
The top line: $775,000 revenue; $327.6 million net loss. Once again, only the best and brightest.
They have announced another source of cash burn though:
In April, the company announced that Truth Social would launch a TV streaming platform in three phases, the first for Android, iOS, and Web. The second would roll out as stand-alone apps for phones, tablets and other devices. The last phase would launch for home television.
In its first-quarter report, Trump Media said it has signed contracts with its first data center partner, which would host the TV platform and a hardware vendor to provide equipment.
Just what I want, TFG screaming at me 24/7 on a streaming service. Just shoot me now.
The sheeple keep buying in though — the stock only dropped about 5% on these lovely corporate results. The two remaining questions:
- does it fail before TFG gets to cash out?
- does he try to wait until after the election to cash out so the sheeple are sheared until after they vote (and does he care)?
His holding period can end about September — early voting starts in early October in some states. Oh, decisions, decisions.
Update:
Maybe someone is paying attention — stock is down 9.5% at 10:30 AM EDT today