Beijing-based ByteDance’s home-grown revenue only saw a 25% increase in 2022 to $69 billion from a year earlier, while the TikTok owner achieved a nearly 150% increase in overseas earnings giving the company total earnings of $85 billion last year despite weakening advertising sales. The figures, reported by The Information, cited sources familiar with ByteDance’s financial results. Revenue from the company’s Chinese business still accounts for around 80% of the total, as national security concerns regarding TikTok continue to occupy Western countries. The report also noted that ByteDance had amassed 840 million daily active users outside China by the end of 2022, close to the 850 million daily active users the company has accrued on home turf. [The Information]
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