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Revenue in 2023: #TikTok: $16 billion ByteDance: $120 billion ByteDance, which is TikTok’s parent company, is about to surpass Meta-Facebook in sales! Hence the hysteria from the US empire, which needs monopoly in social media to maintain its soft power. #China https://t.co/GNv9DJAMjB
Revenue in 2023: #TikTok: $16 billion ByteDance: $120 billion ByteDance, which is TikTok’s parent company, is about to surpass Meta-Facebook in revenue! Hence the hysteria from the US empire, which needs monopoly in social media to maintain its soft power. #China https://t.co/RgbadiWRLA
"ByteDance racked up $120bn in revenues in 2023, up about 40 per cent from a year earlier.... TikTok has hit $16bn in sales in the US" "Meta reported $135bn in revenues last year, up 16 per cent from 2022." 🤔
ByteDance, the parent company of TikTok, reported a significant increase in its financial performance for 2023, with revenues reaching $120 billion, marking a 40% increase from the previous year, and a net profit of $28 billion. This growth was largely driven by TikTok's explosive growth, particularly in the United States where TikTok's revenue was about $16 billion. Despite this success, TikTok faced challenges, reportedly losing several billion dollars in 2023 on revenues of approximately $20 billion globally. Comparatively, Meta reported revenues of $135 billion last year, up 16% from 2022, indicating a competitive landscape in the social media industry.