Trump Media and Technology Group posts more than $300 million net loss in first public quarter

SARASOTA, Fla. (AP) — Trump Media and Technology Group, the owner of social networking site Truth Social, lost more than $300 million last quarter. That’s according to its first earnings report as a publicly traded company filed on Monday. The company posted a loss of $327.6 million for the first quarter, which it said included $311 million in non-cash expenses related to its merger with a company called Digital World Acquisition Corp. Trump Media said collected $770,500 in revenue three-month period that ended March 31, largely from its “nascent advertising initiative.” Earlier this month, the company fired an auditor that federal regulators recently charged with “massive fraud.”