Donald Trump's social media company reported a loss of $238m (£176m) between April and June 2026. This quarterly loss, more than ten times that of the same period a year earlier, was attributed to its ventures into areas unrelated to media, including cryptocurrencies.
Trump Media and Technology Group, which operates the Truth Social platform, posted $1.7m in revenue for the period, an 89% increase year-on-year. However, the overall loss was impacted by a drop in cryptocurrency values.
The company stated it will refocus on its social media mission. This includes a service offering faster access to Trump's market-moving posts to paying customers, which was announced in July. Interim chief executive officer Kevin McGurn noted on Monday that over 10 customers have subscribed to this new service.
Trump Media closed the second quarter with total assets of $2bn, including approximately $1.9bn in financial assets such as cash, short-term investments, and digital currencies. The group has not yet turned a profit, despite its expansion into cryptocurrency holdings and clean-energy investments.