Scott Olson Trump Media & Technology Group (NASDAQ:DJT) posted earnings earlier than expected Friday afternoon, showing a steep drop in revenues and a substantially bigger operating loss. Net sales fell to $836,900 in the quarter ended June 30, a 30% drop from the year-ago total of $1.19M. Operating costs and expenses ballooned to $19.5M from a year-ago $4.9M. That led operating loss to widen to $18.7M from a year-ago loss of $3.8M. The company narrowed its net loss, however, to $16.4M from a year-ago loss of $22.8M -- thanks to just over $2M in interest income in this year's quarter compared with $20.6M of interest expense a year ago. It said about half the net loss was tied to legal expenses, including those tied to the merger with Digital World Acquisition Corp., the company's route to going public. The company had planned its earnings report for Aug. 19. Trump Media (DJT) -- which runs former President Trump's Truth Social platform -- highlighted its balance sheet, where cash and equivalents grew to $344M, against no long-term debt (it reported total liabilities of $14.8M, mostly from accounts payable and unearned revenue). “TMTG has opened the Truth Social platform domestically and internationally, gone public on the Nasdaq, amassed a strong balance sheet with no debt, created its own hardware infrastructure and software system to operate a unique content delivery network, and launched fast, reliable, high-quality TV streaming across the whole Truth Social platform -— all in less than three years since our inception,\" CEO Devin Nunes said. Trump Media stock (DJT) was flat in Friday's after-hours trading.