(Bloomberg) -- President Donald Trump’s campaign raised more money in the first quarter of 2020 than in the previous quarter, but the coronavirus pandemic may be starting to slow fundraising efforts.
Trump’s campaign, along with the Republican National Committee and its authorized fundraising arms, took in $212 million in the first three months of the year, it said Monday. That’s about $56 million more than it raised during the final quarter of 2019. But fundraising slowed toward the end of the quarter, with a $63 million take for March that was 27% smaller than February’s haul.
The Trump campaign still has deep coffers, however. It has raised about $677 million so far and has $240 million in cash on hand.
“Americans can see President Trump leading this nation through a serious crisis and they are responding with their continued enthusiastic support for his re-election,” Brad Parscale, Trump’s campaign manager, said in the statement Monday.
The Democratic National Committee hasn’t released its quarterly numbers yet, but Republican fundraising has consistently dwarfed it. The DNC ended February with $14.1 million in cash on hand. Joe Biden, the presumptive Democratic nominee, said he’s raised $33 million in the first half of March, but he has yet to release a number for the full month.
Coronavirus has ravaged the global economy and affected the 2020 presidential election. Social distancing guidelines to slow the spread of the virus have prevented traditional fundraising efforts and in-person campaigning. Trump’s campaign is holding a series of online events to replace his signature rallies, while Biden is hosting virtual events from his Delaware home.
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