Trump Media posts $410M profit, but crypto hides an operating loss
Summary
Trump Media reported $409.7 million in third-quarter 2026 net income, largely driven by non-cash gains on digital assets and securities. Its filing attributed $378.1 million to Bitcoin and Cronos holdings, including unrealized gains and asset derecognition; these gains did not represent cash generated. Revenue was about $3 million, while adjusted EBITDA showed a $12.3 million loss. The company reported $2.5 billion in assets and a $234.2 million net loss for the first nine months of 2026.
