• 19/07/2024 08:56

TikTok's US annual revenue reaches record $16 billion

The revenue of the service for creating and viewing short videos TikTok in the United States reached a record $16 billion at the end of 2023. The Financial Times writes about this with a link to three sources familiar with the company’s financial performance.

TikTok's annual revenue in the US reached a record $16 billion

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Company income

Gross income of the Chinese ByteDance, which owns TikTok, is valued at $120 billion, which is 40% more than the previous year, the publication’s interlocutors reported.

The company receives the lion’s share of its income in China. According to sources, ByteDance's net profit reached $28 billion in 2023.

ByteDance, whose shares are not traded on an exchange, does not disclose financial indicators. The companies declined to comment.

minfin.com.ua

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