Trump’s Social Media Company Posts Q1 Revenue of $770,500 and Net Loss of $327.6 Million

https://variety.com/2024/digital/news/trump-truth-social-media-q1-2024-revenue-net-loss-1236010937/

46 comments

  1. Midday today it started to tank again, tomorrow will be interesting

  3. Such a great businessman! He’s going to run America the same way, you just wait and see it’s going to be fantastic

  4. Can’t wait for the GOP to try and pass something to bail the company out!

  5. Trump managed to lose more money in 1 quarter than twitter did in the entire year of 2023. That’s how bad this was.

  6. And the stock goes up in after hours trading. Pretty much the definition of a cult.

  8. 1. Create meme stock.
    2. Get investors.
    3. Pump n’ dump.
    4. Becomes a penny stock.
    5. ???

  9. How could that ridiculous platform ever be profitable? It’s inhabited exclusively by MAGAts, and the only businesses that advertise on it sell gold, freeze-dried survival food, boner supplements, and NFTs of Trump dressed up like a Roman gladiator. This is not the foundation for a successful, publicly-traded company.

  10. *Pump and dump, then pump then dumb, launder all the money.*

  11. Hahaha. Fuck Trump and his cult. Fuck the fascist dictatorship that he and his followers want for America.

  13. Its value comes from it being a workaround to campaign finance laws.

  14. To be fair, ‘revenue” doesn’t include profits as a result of bribing a political leader. Who cares about losing millions on stock if you end up profiting billions on your business.

  15. It is wild that my sole proprietor business with a team of one made $327.7 million more than Trump’s.  I am crushing it.

  17. $770k in revenue is not bad for a young business. $330M loss is a bit on the high side; gonna wanna balance the p&l sometime soon. /s

  19. If only I had a cool $1 Million. This thing is going to the moon!

  20. “Posts Q1 Revenue of $770,500”

    Wait I thought MyPillow was broke…

  23. So at this rate Trumps billions will be gone in 1.5 years.

  25. I was just reading a an article about how their cult leader would create junk bonds for idiots to buy and use the money to pump back into his debt.

  26. How does one spend $300m to get revenue of less than $1m?

    I could spend $100m on facebook ads selling used dildos, and turn up higher revenue than that

  27. How does one spend $300m to get revenue of less than $1m?

    I could spend $100m on facebook ads selling used dildos, and turn up higher revenue than that

  29. It’s funny, I considered making an account on Truth Social not because I’m a Tump supporter but because I’m curious about it from a sociological perspective. On second thought, I’d rather China have my info than Trump.

  30. oh wow, great opportunity going to buy some shares asap l s

    Think this venture is a way to funnel money to this all about him false prophet. puke

  31. If I sold by house I’ll have almost the same revenue as truth social.

    That’s a whole new level of pathetic.

  32. I always wonder if all of his failed endeavors aren’t bad business, but rather a funneling out of money.

    It’s fun for the general public to laugh at him. But if a business structure leeches and siphons assets to leave a husk behind, then they are actually successful.

    Decades of “failure” with probably at this point billions “gone”. That’s a lot of smoke for no fire. 

  33. It has 1.5 years of run way, so we will see it nose dive soon

  34. P/E of -82, sounds about right. These people deserve everything that is coming to them.

  35. What the fuck consumed 327 million dollars, isn’t the company based on a site with a million users?

  37. Donald Trump knows how to run a business.

    Into the ground.

  38. Can someone explain to me wtf they spent $330 million dollars on?!!

  39. So like all other social media companies; but with less users. How many people are actually using this site.

    Typically these companies give number of users and time spent online

  40. What are they spending the money on? (I’m assuming several million per board member, but nowhere near $327 million) And where is that money coming from? The blank check company that they merged with had like $300 million on hand. Are they borrowing against the stock, or selling stock?

  41. “Go woke, go broke”, they say. Sounds like owning the libs doesn’t fare much better.

  42. Those losses are being funneled into Trump’s pocket. The investors are losing, but Trump is winning. This is what he does. This is what he did with Trump Steaks, Trump Water, et al. It’s a winning business model for him, and a loser for everyone else who was stupid enough to invest.

  43. But daddy Trump, why not money make???? Cucks them all

  45. > In Q1, the company recorded $311 million in non-cash expenses arising from the conversion of promissory notes, …

    Translation: They are taking bribes disguised as loans. After they go bankrupt, the loans are not repaid, or maybe repaid at a half cent to the dollar, and the money was long since transferred from DJT to DJT Trust.

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