Trump media company announces a massive loss and new turnaround effort
The president’s media company posted a massive loss in the latest quarter and plans to ditch new business lines and refocus as a forum for users to post their views. The company behind the Truth Social platform said Monday that it lost $238 million in the three months through June as it branched into businesses unrelated to media, including crypto. That was more than 10 times the loss from a year earlier. The new chief executive, Kevin McGurn, said a yearlong effort to expand by branching into several new industries including online betting and crypto would now be largely abandoned as he refocuses the business on its social media mission.
特朗普的媒体公司在最新一个季度录得巨额亏损，并计划放弃新的业务线，重新聚焦于为用户提供一个发表观点的平台。Truth Social平台背后的公司周一表示，在截至6月的三个月里，由于涉足包括加密货币在内的与媒体无关的业务，其亏损了2.38亿美元。这比一年前的亏损高出十倍以上。新任首席执行官凯文·麦格恩表示，为期一年的扩张努力，即涉足包括在线博彩和加密货币在内的多个新行业，现在将基本放弃，因为他将把业务重新聚焦于其社交媒体使命。