Trump Media (DJT)

Trump Media & Technology Group lost more than $300m during the first quarter and generated very little revenue, the owner of Truth Social announced.

The company disclosed a net loss of $327.6m (£257.6m) in the first quarter of the year, with total revenue at $770,500, according to its earnings report.

Trump Media said collected $770,500 in revenue in the first quarter, largely from its “nascent advertising initiative”. That was down from $1.1m a year earlier.

The company said that it has “sufficient” cash to fund the business “for the foreseeable future.” The company listed a cash balance of $274m as of the end of March — a sum boosted by its deal to go public.

The public debut of Trump Media was a boon to Trump, who owns a nearly 65% stake, worth about $6bn.

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“After an unprecedented, years-long process, we have consummated our merger and dispensed with the vast bulk of merger-related expenses, leaving the company well-capitalized and supported by a legion of retail shareholders who believe in our mission to provide a free-speech beachhead against Big Tech censorship,” Trump Media CEO Devin Nunes said in a statement.

Palo Alto (PANW)

Shares of Palo Alto Networks tumbled in pre-market trading, triggered by the company's decision to narrow its full-year guidance.

For Q3, the cybersecurity company reported adjusted earnings per share of $1.32 (£1.02) compared to an estimated $1.26. Revenue of $2bn was slightly better than the expectations of $1.97bn.

Operating income in the quarter came in at $508m, up 25% year-over-year, while Palo Alto Network’s operating margin grew 200 basis points year-over-year, to 25.6%.

For the full year, Palo Alto Networks sees billings of $10.13bn to $10.18bn, a narrower range than the previously forecasted $10.1bn to $10.2bn and short of the $10.19bn estimate.

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The company sees adjusted earnings per share of $5.56 to $5.58. Full-year revenue is estimated to be $7.99bn to $8.01bn, an increase from the prior guidance of $7.95bn to $8bn, and better than the $7.98bn estimate.

“We have remained disciplined in our execution while investing in go-to-market and innovation,” Chief financial officer Dipak Golechha said. “We delivered consistent, profitable growth yet again in Q3 and look forward to executing against our strategic goals and financial targets as we close out the year.”

AstraZeneca (AZN.L)

AstraZeneca said it expects to deliver $80bn (£62.9bn) in total revenue by 2030 as it is poised to launch 20 new medicines.