TikTok's Chinese owner boosts annual profits to a record $25 billion, report says

Sun, 04/09/2023 - 09:00

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.