Trump Media & Technology Group reported a bigger third-quarter loss and a decline in revenue, facing financial hurdles with high expenses. Shares fell over 3% in morning trading. The company’s revenue primarily comes from advertising on its Truth Social platform, where engagement is crucial for success.

Total revenue for the third quarter was $972,900, down 3.8% from the previous year. Trump Media reported a net loss of $54.8 million, with $20.3 million in legal expenses. The company went public in 2024 and has been volatile, driven by political news and retail investor momentum.

In August, Trump Media partnered with Crypto.com to launch a new venture focused on accumulating the platform’s native token CRO. The company, led by CEO Devin Nunes, does not disclose key performance indicators like monthly active users. Trump Media must convert Trump’s presence on Truth Social into a profitable revenue stream.

Read more at Yahoo Finance: Trump Media’s quarterly loss widens as costs soar