Fox News host Maria Bartiromo highlighted revenue losses suffered by Donald Trump's Truth Social platform.
During a Sunday interview with Truth Social CEO Devin Nunes, Bartiromo reviewed the company's financial condition.
"President Trump's media company has had a volatile two weeks," she noted. "The stock finished down about 30% this week. The company, which operates Trump's Truth Social platform, lost $4 billion in market value after gaining six billion in value during its debut on the Nasdaq two weeks ago."
"For 2023, Trump media posted a loss of $58 million on revenue and $4.1 million [profit] in a regulatory filing," she continued. "The company also disclosed that its auditor had raised concerns about its ability to continue operating before its recent merger and IPO."
The Fox News host then welcomed Nunes.
"I was looking at the filing to the Securities and Exchange Commission and the loss," Bartiromo said. "When would you expect this company to turn profitable?"
Nunes blamed the losses on overregulation.
"So even if you take the ridiculous cost that it took us to get to this point, we are well positioned," he said. "Because we have no debt. We're coming out of this with no debt, a platform that works really, really well, that communicates to millions of people. And then we have $200 million in the bank."
"There's never been a company like this," he added. "And we're really the only game in town that can accomplish this."
"Those are all the issues that we're that we're focused on and including, you know, making sure that we're dealing with like a three-year plan here where we can go out and put this whole company together where we're not relying on big tech."
