TikTok owner ByteDance's revenue up 111% to US$34.3b in 2020: source

[BEIJING] TikTok owner ByteDance's total revenue hit US$34.3b in 2020, up 111 per cent from 2019, the company told its employees in a staff meeting, a person who attended the meeting told Reuters on Thursday.

Its gross profit hit US$19 billion, representing a 93 per cent growth year over year while its operating loss was US$2 billion for the year and net loss was US$45 billion, the person said.

REUTERS