Reuters reported exclusively that China’s ByteDance, owner of video-sharing app TikTok and one of the world’s most valuable unicorns, booked revenue of 50-60 billion yuan ($7 billion to $8.4 billion) in a better-than-expected result for the first half. ByteDance, which was loss-making in the first-half, also posted a profit in June and was confident of making a profit in the second half of the year. Robust growth has led the Beijing-based startup to revise its revenue target for 2019 to 120 billion yuan from an earlier goal set late last year of 100 billion yuan.
Reuters reveals TikTok owner ByteDance’s H1 revenue better than expected at over $7 billion
30 September 2019, 12:00 am. 1 minute
Type: Reuters Best