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TikTok owner Bytedance’s profits hit $25bn last year as it beats rival tech firms

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The company has outperformed rival Chinese and Silicon Valley firms at a time when it faces scrutiny over its links to Beijing

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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TikTok owner Bytedance’s profits hit $25bn last year as it beats rival tech firmsThe company has outperformed rival Chinese and Silicon Valley firms at a time when it faces scrutiny over its links to Beijing
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