The profit of the Chinese company ByteDance in 2022 increased by 79% to $ 25 billion. This figure is a record for the company. In this respect writer The Financial Times newspaper cites sources in investment circles.
According to the publication, ByteDance surpassed other Chinese tech giants Tencent and Alibaba for the first time in 2022 in revenue with core earnings of $23.9 billion and $22.5 billion, respectively.
Broadcast sources shared that ByteDance’s sales at the end of the year amounted to approximately $85 billion, an increase of almost a third (30%) from the previous year. The profits of international divisions, including TikTok, have also increased. By the end of the year, it had doubled to almost $15 billion.
According to the newspaper, the company’s profits are increasing despite pressure from regulators from Western countries and a series of restrictions placed on TikTok.
March 31, Huawei President Xu Zhijun at a press conference declarationChinese telecommunications company Huawei reported that its net profit for 2022 decreased by 68.7% to 35.6 billion yuan ($5.2 billion). Xu said revenue in 2022 was 642.3 billion yuan ($94.4 billion), up 0.9% from 2021.