The parent company of Donald Trump’s social networking site Truth Social lost $19.2 million in the last quarter, according to an earnings report released on the same day he won back the presidency.
Trump Media and Technology Group reported late Tuesday that much of that loss stemmed from more than $12 million in legal fees, along with a decline in revenue, according to the surprise Election Day earnings report. Its stock price surged Wednesday but that was more likely due to Trump’s defeat of Vice President Kamala Harris to retake the presidency than on its profit prospects.
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