Trump Media reports $409.7M Q3 net income, helped by digital asset gains
· 6 sources
Trump Media posted $409.7 million in Q3 net income, driven largely by non-cash items, while revenue tripled, according to CryptoSlate, The Independent and others.
What happened
Trump Media & Technology Group (DJT) reported third-quarter net income of $409.7 million, according to CryptoSlate and Decrypt. CryptoSlate says the result was driven largely by non-cash items.
CryptoSlate reports the company recorded $496.1 million in digital asset and equity gains, and says crypto activity masks an operating loss. Decrypt similarly says bitcoin gains did most of the work behind the profit.
The Independent and Yahoo News Canada report that revenue tripled after the company began offering paid, faster access to the president's posts. Forbes reports that shares of Truth Social's parent company rose 10% and that the move made Trump $30 million richer.
Context
Trump Media is the parent company of the Truth Social platform. Net income that includes non-cash gains on digital assets can differ widely from results of day-to-day operations.
Why it matters
The gap between headline profit and operating results shows how much the company's reported earnings depend on the value of its digital asset and equity holdings.
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