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The Guardian - US
The Guardian - US
World
Maanvi Singh and agencies

Trump’s media company, which also owns Truth Social, reports $238m loss

Donald Trump Kevin McGurn Trump Media
Trump holds up an image taken from his Truth Social account during an order signing about vaccines.
Donald Trump holds up an image taken from his Truth Social account during an order signing about vaccines. Photograph: Jacquelyn Martin/AP

Donald Trump’s media company – which owns the Truth Social platform favored by the US president – posted a $238m loss in the second quarter.

Trump Media & Technology on Monday reported that losses in the three months through June came as the company branched into new ventures including crypto. The company’s new chief executive, Kevin McGurn, announced at a conference call about the earnings that after a yearlong effort to expand into online betting and crypto, the company would be refocusing on social media.

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