Digital assets and equity securities generated a $496.1 million gain
Trump Media & Technology Group, the parent of Truth Social and President Trump’s media company, reported a third-quarter profit of $409.7 million on Monday, compared with a $54.8 million loss in the same period a year earlier. The results came ahead of the company’s planned $6 billion merger with nuclear-fusion firm TAE Technologies.
The $496.1 million gain on digital assets and equity securities drove the profit, while other non-cash costs partially offset the gain. Quarterly revenue rose to $3 million from $1 million a year earlier.
Around $1.8 million of that revenue came from subscriptions in the media division, including the Truth+ streaming platform and Truth API. The company launched Truth API in August to provide instant access to President Trump’s Truth Social posts.
The TAE Technologies merger is scheduled to close in the fourth quarter.
Interim Chief Executive Kevin McGurn said closing the merger will be a key priority in the current quarter.
“We are advancing an exciting new chapter for our shareholders,” McGurn said. “Our commitment to building independent, uncancellable media technology remains unwavering, while TAE’s groundbreaking innovations represent an extraordinary opportunity to advance American energy independence.”
The earnings release followed widespread defeats for President Trump’s party in the midterm elections last week. Trump Media shares fell following the Democratic victories. The shares had fallen 50% over the past month through Monday’s close.
A separate market-data display showed Trump Media & Technology Group’s DJT entry up 1.75%.