Trump Media & Technology Group experienced a net loss of $19.2 million in the third quarter due to legal fees and expenses related to its TV streaming deal.
The company stated that $12.1 million of the loss was connected to legal costs associated with its acquisition of streaming technology in August, as well as residual fees from its SPAC deal finalized in March.
Additionally, the firm incurred $3.9 million in research and development expenditures during the quarter.
Despite these financial setbacks, shares of Trump Media rebounded in after-hours trading, showing a gain of approximately 2%.