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TikTok fuels ByteDance revenue as US ban looms: report / Photo: © AFP
NYSE - LSE
TikTok fuels ByteDance revenue as US ban looms: report
TikTok's international revenue boomed last year as China-based parent ByteDance faced a deadline to sell the app or have it banned in the United States, The Information reported on Thursday.
The tech news outlet cited an unnamed person with knowledge of ByteDance financial data as saying the firm's revenue from international operations, mostly TikTok, soared 63 percent to $39 billion in 2024.
ByteDance did not immediately reply to a request for comment on the data.
Money taken in by TikTok last year accounted for a quarter of ByteDance's overall revenue, which reached a new high despite China operations slowing, according to the report.
ByteDance's profit grew 6 percent to $33 billion in 2024, The Information reported.
US President Donald Trump last week extended an April 5 deadline for 75-days for TikTok to find a non-Chinese buyer or face a ban in the United States.
Trump said Sunday there was a deal on the sale of TikTok, but tariffs recently imposed by Washington on Beijing derailed it.
ByteDance, while confirming recently that it was in talks with the US government toward finding a solution, warned that there remained "key matters" to resolve.
H.Szczepanski--GL
