Donald Trump’s social media company lost more than $58 million last year

NEW YORK (AP) — Less than a week after a flashy stock market debut, Donald Trump’s social media company is disclosing that it lost nearly $58.2 million in 2023. Last year’s losses for Trump Media & Technology Group — whose flagship product is Truth Social — mark a stark decline compared to a profit of $50.5 million that the former president’s company reported for 2022, according to a new regulatory filing. Revenues for Trump Media topped just over $4.13 million in 2023, although that’s up from $1.47 million seen in 2022. After merging with with a blank-check company called Digital World Acquisition Corp., Trump Media began trading on the Nasdaq Tuesday under ticker symbol DJT. And the company’s stock has proven to be quite volatile since.