Summary by Moomoo AI
Trump Media & Technology Group Corp. reported Q3 2024 results, ending with $672.9M in cash and investments and no debt. The company launched Truth+, a TV streaming platform, with proprietary content delivery network and apps for multiple devices. Revenue was $1M, with $4.7M in interest income.TMTG posted an operating loss of $23.7M and a net loss of $19.2M, including $12.1M in legal fees and $3.9M in R&D. The company expanded its ecosystem beyond social media, introducing live TV streaming on Truth Social and launching Truth+ with features like live TV rewind and network DVR. TMTG plans to add more content and platforms for Truth+.CEO Devin Nunes highlighted the company's rapid expansion and independence from Big Tech. With approximately 650,000 shareholders, mostly retail investors, TMTG is exploring further growth opportunities, including potential mergers and acquisitions in areas such as fintech.
