ByteDance clarifies that profit growth and data rumors are untrue

Enlarge the picture. Regarding reports that the parent company of TikTok, ByteDance, saw its profits soar by 60% last year, ByteDance posted on its official account that the media’s rumors about ByteDance’s profit growth and data are untrue. Earlier, Bloomberg quoted insiders as saying that ByteDance’s profit growth in 2023 is about 60%, and its profit before interest, taxes, depreciation, and amortization has increased to more than $40 billion (about HKD 312 billion), higher than about $25 billion in 2022; its revenue has also increased from $80 billion to nearly $120 billion.