Tron founder Justin Sun has announced his group's second-quarter earnings.
According to Sun's post on his Twitter account, the group earned $193 million in revenue in the second quarter of 2023. Second-quarter profit was $85 million, with expenses of $108 million.
The group's profit increased by 183% compared to the same period of the previous year. Sun said efforts to increase revenues and reduce costs are seeing effects.
The group's profit is expected to be $100 million in the third quarter, with revenue of $200 million and expenses of $100 million. It was specifically stated that these data do not include investment gains and losses.
Stating that the profitability of the stock market has reversed, Sun said, “The stock market has reversed sharply and is expected to break even in the third quarter. We expect profitability to increase cautiously in the fourth quarter.”
While the main source of income for Justin Sun group is TRC20-USDT revenues in the Tron network, other sources consist of revenues such as Huobi, Poloniex and TUSD.