- ByteDance posted a profit of $25 billion last year, the Financial Times reported.
- The TikTok owner increased its bottom line by almost 80% compared with 2021’s $14 billion result.
- It was valued at $300 billion in 2022, making it the world’s most valuable privately owned company.
Profits at ByteDance, the Chinese owner of video-sharing site TikTok, soared almost 80% last year to $25 billion, the Financial Times reported.
Revenues jumped more than 30% to about $85 billion as advertisers increased their spending on TikTok and its Chinese equivalent called Douyin. Only about $15 billion was generated outside China, although that was more than double the figure for 2021, per the newspaper.
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