Trump's Truth Social posts Q2 loss, lower revenue

Trump Media and Technology Group, the owner of former President Donald Trump’s social networking site Truth Social, lost more than $16 million last quarter, along with a decline in revenue. Trump Media said Friday it also incurred $3.1 million of technology consulting and software licensing expenses, mainly related to its software licensing agreement to power its new TV streaming service called Truth+. Revenue was $836,900, down 30% from $1.2 million a year earlier. Truth Social said it has zero debt and “believes it has sufficient working capital to fund operations for the foreseeable future.”