Tiktok-owner ByteDance’s profit hit $25 billion last year and surpassed that of other China technology giants Tencent and Alibaba for the first time, according to the Financial Times.
The reports illustrate the rapid rise of the controversial company, which has drawn scrutiny from America and European governments over its closeness to the Chinese state. Earnings before interest, tax, depreciation and amortization, or Ebitda, jumped 79 per cent to about $25 billion in 2022, the report ...
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