{"id":583443,"date":"2023-08-01T16:54:08","date_gmt":"2023-08-01T15:54:08","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=583443"},"modified":"2023-08-01T16:54:16","modified_gmt":"2023-08-01T15:54:16","slug":"justin-sun-tron-85-million-profit-q2-2023","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/justin-sun-tron-85-million-profit-q2-2023\/","title":{"rendered":"Justin Sun&#8217;s Tron Group Records $85 Million Profit In Q2 &#8216;2023"},"content":{"rendered":"\n<ul><li>Justin Sun\u2019s Tron Group has posted a profit of $85 million for the second quarter of 2023.&nbsp;<\/li><li>The group saw a growth of 183% in its quarter-on-quarter (QoQ) profit thanks to cost-cutting measures.<\/li><li>Sun projected revenue of $200 million for Q3, with a quarterly profit of $100 million.&nbsp;<\/li><li>Meanwhile, Huobi Global recorded a significant loss in Q2 and is expected to break even in the third quarter.&nbsp;&nbsp;<\/li><\/ul>\n\n\n\n<p>Justin Sun\u2019s Tron Group has recorded a profit of $85 million in the third quarter of 2023. The group saw a quarter-on-quarter profit growth of 183% after enforcing cost-cutting measures. Sun, who took to <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1686371227089436672\" rel=\"nofollow noopener\">Twitter<\/a> earlier today to share Tron\u2019s performance with the community, expects the group\u2019s revenue to reach $200 million in the third quarter.\u00a0<\/p>\n\n\n\n<h2><strong>Justin Sun Expects Huobi To Breakeven In Q3 \u20182023<\/strong><\/h2>\n\n\n\n<p>According to <a href=\"https:\/\/en.ethereumworldnews.com\/trx-expands-ethereum-bittorrent-bridge\/\">Justin Sun<\/a>, Tron Group\u2019s second-quarter revenue came in at $193 million. With an expenditure of $108 million, the group was left with a quarterly profit of $85 million, as compared to $30 million in the first quarter of 2023. The revenue did not include investment gains and losses of the firm.\u00a0<\/p>\n\n\n\n<p>Some of the Q2 metrics were lower than Sun had <a href=\"https:\/\/twitter.com\/sunyuchentron\/status\/1645366519260655616\" rel=\"nofollow noopener\">projected<\/a> at the end of the first quarter. While the revenue exceeded the projected $187 million, the group failed to limit its expenditure to $76 million, which prevented it from reaching the projected profit of $111 million.\u00a0<\/p>\n\n\n\n<p>Sun told his followers that the firm\u2019s efforts to increase revenue and reduce costs were visible in the earnings. As for the third quarter revenue, the Tron founder shared a conservative forecast of $200 million. He added that he expected a 7.4% reduction in expenditure, bringing the Q3 projection to $100 million.&nbsp;<\/p>\n\n\n\n<p>Huobi Exchange, which was reportedly acquired by Justin Sun\u2019s group last year, suffered a significant loss in the second quarter. The crypto entrepreneur expects the exchange business to break even in the next quarter and turn slightly profitable by Q4 \u20182023.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Justin Sun&#8217;s Tron Group has reported a profit of $85 million in second quarter of 2023, marking a QoQ increase of 183%. <\/p>\n","protected":false},"author":62,"featured_media":583445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,2,4657,26],"tags":[7301,7565,1057,1255],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583443"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=583443"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583443\/revisions"}],"predecessor-version":[{"id":583446,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583443\/revisions\/583446"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/583445"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=583443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=583443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=583443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}