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

(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.

(Reporting by Kanishka Singh and Nandakumar D in Bengaluru; Editing by Himani Sarkar)