Donald Trump’s Truth Social Update: Revenue Plummets as Stock Struggles [Video]

Trump Media and Technology Group (TMTG), the social-media company owned by Donald Trump whose main social-media platform is Truth Social, reported on Friday that its second-quarter revenue plunged 30 percent to $836,900 from 2023.

Truth Social launched in February 2022, about a year after the former president was banned from X (formerly Twitter) and Facebook for posts about the January 6 riots at the U.S. Capitol in 2021. While Trump has since been reinstated to the platforms, he opts to use Truth Social. The app has lower numbers of active users in comparison to Reddit and X, which have been around for longer.

TMTG’s Friday regulatory filing showed that revenue for the most recent quarter plunged to $839,000 compared to $1.2 million for the same quarter last year. The company reported losing $16.4 million during the quarter, compared to $22.8 million loss in 2023.

In the regulatory filing, the company said all second-quarter revenue …