Trump Media stock falls 10% after posting $327.6 million loss in first quarter

• Shares of Trump Media fell after the company reported a net loss of $327.6 million on just $770,500 in revenue in the first quarter of 2024.
• Trump Media's majority shareholder is former President Donald Trump.
• The company, which trades under the DJT ticker, went public in March through a merger with a shell company.

Shares of Trump Media fell more than 10% Tuesday, a day after the Truth Social app owner reported a net loss of $327.6 million on just $770,500 in revenue in the first quarter of 2024.

Trump Media, whose majority shareholder is former President Donald Trump, revealed the loss in its first earnings report since its stock began public trading under the DJT ticker in March through a merger with a shell company.

The loss for the three-month period ending in March equates to a net loss of $3.61 per share attributable to common stockholders, according to the earnings report.

The report attributed Trump Media's loss to noncash expenses, including "the conversion of promissory notes, and the associated elimination of prior liabilities" that preceded its merger with Digital World Acquisition Corp.

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