ByteDance’s gross profit rose 93% to $19 billion last year

June 17, 2021 admin Stock News 0

© Reuters. FILE PHOTO: The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) – TikTok Owner ByteDance’s gross profit surged 93% to $19 billion last year, while its net loss for 2020 totaled $45 billion, the Wall Street Journal reported on Thursday, citing a memo.

The company’s revenue last year more than doubled to $34.3 billion, the newspaper said https://on.wsj.com/3iI3mb0.

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