Trump Media says it lost more than $400 million last year while revenue dropped 12%
CBSN
Trump Media and Technology Group, the parent company of President Trump's social networking site Truth Social, said it lost $400.9 million last year, while its annual revenue declined 12% to $3.6 million.
Trump Media & Technology Group, which reported its earnings late Friday, said its annual loss was due to non-cash charges including $107.4 million in stock-based compensation and an accounting loss of $225.9 million linked to changes in the fair value of derivative liabilities.
The company, which trades under the ticker DJT — the same initials as Mr. Trump — said a "significant portion" of its revenue decline was caused by a change in a revenue-sharing agreement with an advertising partner, which it didn't disclose.
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