{"id":38516,"date":"2026-08-11T12:19:14","date_gmt":"2026-08-11T07:19:14","guid":{"rendered":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=38516"},"modified":"2026-08-11T12:19:14","modified_gmt":"2026-08-11T07:19:14","slug":"trump-media-company-announces-a-massive-loss-and-new-turnaround-effort","status":"publish","type":"post","link":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=38516","title":{"rendered":"Trump media company announces a massive loss and new turnaround effort"},"content":{"rendered":"<p><script>\r\n  atOptions = {\r\n    'key' : '644b717812d811d6a1c1fc5b6ccd6fa6',\r\n    'format' : 'iframe',\r\n    'height' : 90,\r\n    'width' : 728,\r\n    'params' : {}\r\n  };\r\n<\/script>\r\n<script src=\"https:\/\/www.highperformanceformat.com\/644b717812d811d6a1c1fc5b6ccd6fa6\/invoke.js\"><\/script>\r\n<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/twt-thumbs.washtimes.com\/media\/image\/2026\/08\/01\/Trump_Truth_Social_46135_s1440x960.jpg?f72536d07237fdd262042ae8f5e6e6de3b865f3c\" \/><\/p>\n<div>\n<p>NEW YORK \u2014 The president\u2019s media company posted a massive loss in the second quarter and announced plans to ditch new business lines and refocus as a forum for users to post their views.<\/p>\n<p><a href=\"https:\/\/www.washingtontimes.com\/topics\/trump-media-technology\/\">Trump Media &amp; Technology<\/a>, the company behind the <a href=\"https:\/\/www.washingtontimes.com\/topics\/truth-social\/\">Truth Social<\/a> platform, said Monday that it lost $238 million in the three months through June as it branched into businesses unrelated to media, including crypto. That was more than 10 times the loss from a year earlier. The per-share loss widened to 86 cents from 8 cents.<\/p>\n<p>In a conference call after the earnings release, the new chief executive, Kevin McGurn, said a yearlong effort to expand by branching into several new industries, including online betting and crypto, would now be largely abandoned as he refocuses the business on its social media mission.<\/p>\n<p>\u201cWe made the disciplined choice to pivot in order to invest more time and resources in our most important initiatives,\u201d McGurn said. \u201cWe will say no to things or change course as warranted.\u201d<\/p>\n<p>Trump Media stock fell slightly in after-hours trading following the earnings report. The stock had fallen 8% in regular trading.<\/p>\n<p>Key to McGurn\u2019s plan is a service called Truth API that offers early access to Wall Street trading firms to top posters on the <a href=\"https:\/\/www.washingtontimes.com\/topics\/truth-social\/\">Truth Social<\/a> platform. That includes the user with most followers, President <a href=\"https:\/\/www.washingtontimes.com\/topics\/donald-trump\/\">Donald Trump<\/a>, who often moves markets by breaking major U.S policy shifts on the site.<\/p>\n<p>Trump Media has been attacked by good government watchdogs from the start of Trump\u2019s second term as a vehicle for him to profit off the presidency. The new service has only heightened those concerns, with Democrats vowing to investigate the paid service if they get control of Congress in the midterms.<\/p>\n<aside>\n<\/aside>\n<p>McGurn has dismissed such concerns, noting that other companies sell special, fast access to traders.<\/p>\n<p>\u201cProviding licensed real-time public data through commercial APIs is a well-established business practice across the technology, financial information and media industries,\u201d he said. \u201cThis is no different.\u201d<\/p>\n<p>One previously announced new venture, nuclear fusion, will continue. McGurn said Trump Media hopes to close a previously announced merger with energy company TAE Technologies by the end of the year.<\/p>\n<p>\u201cWe continue to believe it\u2019s the single most important driver of long-term value for this company,\u201d McGurn said of the fusion business.<\/p>\n<p>Much of the damage last quarter was due to unrealized paper losses from the falling values of Trump Media\u2019s holdings of bitcoin and a crypto token called Cronos.<\/p>\n<p>Excluding those paper losses as well as taxes, interest and other items, so-called operating losses still increased, but much less than the unadjusted results &#8211; a $164 million loss from a $44 million loss a year earlier.<\/p>\n<p>The new Truth API service is charging $60,000 to $100,000 a month, McGurn said, adding that Trump Media has already signed up 10 customers, mostly so-called high-frequency trading firms that buy and sell in milliseconds.<\/p>\n<p>\u201cWe\u2019re in the early innings,\u201d said McGurn, noting that the potential market was much bigger than traders, including data center companies, news organizations and developers of large language models.<\/p>\n<p>Ten customers translate into a big new revenue source for Trump Media, possibly bringing in between $7 million to $12 million a year, or roughly two to three times the company\u2019s entire revenue last year.<\/p>\n<p>In the second quarter, Trump Media posted $1.7 billion in revenue, more than double from a year earlier.<\/p>\n<p>The company has $1 billion in debt from special convertible notes that don\u2019t come due until 2028, but the lenders have an option to demand they be cashed out in November, a possible hit to finances, though the company appeared to have ample cash.<\/p>\n<p>                        <a name=\"pagebreak\"\/><\/p>\n<p>At the end of the quarter, Trump Media had more than $400 million in cash and short-term investments. It also had $1.2 billion in bitcoin and bitcoin-related assets.<\/p>\n<div class=\"permission\" style=\"padding-top: 25px;\">\n<p>Copyright \u00a9 2026 The Washington Times, LLC.\n                        <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<script async=\"async\" data-cfasync=\"false\" src=\"https:\/\/pl30214220.effectivecpmnetwork.com\/9ab3d4df8a7e1a6171e16ddbf732cc19\/invoke.js\"><\/script>\r\n<div id=\"container-9ab3d4df8a7e1a6171e16ddbf732cc19\"><\/div>\r\n\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK \u2014 The president\u2019s media company posted a massive loss in the second quarter and announced plans to ditch new business lines and refocus as a forum for users to post their views. Trump Media &amp; Technology, the company behind the Truth Social platform, said Monday that it lost $238 million in the three&#8230;<\/p>\n","protected":false},"author":1,"featured_media":38517,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/twt-thumbs.washtimes.com\/media\/image\/2026\/08\/01\/Trump_Truth_Social_46135_c0-0-3335-1945_s1200x700.jpg?5dc1a70fbc091d7877efbdb4cee210d498d33746","fifu_image_alt":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-38516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-hub"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/38516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38516"}],"version-history":[{"count":0,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/38516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/media\/38517"}],"wp:attachment":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}