Trump Media's third-quarter net profit reached $409.7 million.

Trump Media and Technology Group, the parent company of Truth Social, reported third-quarter net income of $409.7 million, reversing a net loss of $54.8 million in the same period last year. The company said most of the profit stemmed from non-cash realized and unrealized gains on digital assets, staked digital assets and equity securities. Quarterly revenue reached $3 million, up 205% year-over-year, driven mainly by growth in Truth API subscription revenue. The swing to profitability matters because it shows Trump Media's earnings are increasingly tied to its digital asset holdings rather than its core social media business. Investors will watch whether those non-cash gains persist and whether subscription revenue can keep scaling.