Trump Media, valued at $7 billion, booked less than $1 million in first-quarter sales
CBSN
Trump Media & Technology Group, a startup majority-owned by former President Donald Trump that is valued at nearly $7 billion after going public in March, said it booked $770,500 in revenue during the first quarter, down from $1.1 million during the year-ago period.
The company, whose main asset is the social media network Truth Social, also reported losing $327.6 million during the first three months of 2024 due largely to a charge for a financial transaction, according to a Monday regulatory filing. That compares with its year-earlier loss of $210,000.
The report offers a glimpse into the finances of the newly public company, which says its mission is to provide an alternative to Facebook and other social media platforms. Since going public, Trump Media — whose shares trade under the ticker DJT, the same as former President Donald Trump's initials — have had a wild ride, sinking in its first few weeks of trading before rebounding to reach its current market capitalization.
This story previously aired on Sept. 15, 2018. News report: Today, in a 5-1 decision, the California State Supreme Court ruled that Rodney Alcala did not receive a fair trial. Juror: We, the jury, find the defendant, Rodney James Alcala, guilty of the crime of murder in the first degree. Victim Robin C. Samsoe… "I wanna kill, I wanna kill, I wanna see blood and gore and guts and veins in my teeth. Eat dead burnt bodies. I mean, kill, kill, kill, kill." Jury member [in court]: We, the jury … determine that the penalty to be imposed upon defendant, Rodney James Alcala, to be death. D.A. Cyrus Vance to reporters: For both families, who had lost all hope that these cases would ever be solved, the pleas by Rodney Alcala, and today's sentencing brings closure to painful chapters in their lives.
A new law aims to strengthen reporting requirements for technology companies to combat online predators seeking to exploit children. One dad told CBS News that he hopes the law will save children like his son, who died by suicide after becoming ensnared in a "sextortion" scheme when he was 17 years old.