Tiktoks parent companys byte beating operation performance turned to profi

Tiktok's parent company's byte beating achieved an operating profit of nearly 6 billion US dollars (the same, about S $ 8.2 billion) in the first fiscal quarter of 2023, which is almost double the same period last year. At the same time, this is the same period last year.The Chinese social media giants have reduced expenses.

According to the previous report of the Wall Street Journal, the rare disclosure of this non -listed company's always confidential financial situation showed that since 2021, the business jump business has been reversed greatly.Business loss reaches $ 7 billion.

According to the Wall Street Journal, despite the continued increase in revenue of byte beating, it surged more than 38%in 2022 to reach 85.2 billion US dollars. However, according to a financial report shared by the company with employees, the company's this yearThe income increase decreased compared with the previous year, and the company's income increase was nearly 80%last year.The report shows that the company's business profit last year exceeded $ 20 billion.

The report quoted people familiar with the matter and revealed that in addition to the financial documents issued to the current and former employees, the byte beating also proposed to repurchase the stock from the current employee at the price of $ 160 per share.Byte beating pointed out that the company's 1.4 billion shares were issued in foreign shares, which means that its valuation is 223.5 billion US dollars.

The Wall Street Journal previously reported that this number decreased by nearly 26%compared with the $ 300 billion valuation a year ago.

As a non -listed company headquartered in Beijing, the byte beating has always been strictly confidential, and has not disclosed its performance.The report issued to employees on Monday (October 2) provides the most detailed report of current performance and future planning, covering the whole year of 2021 and 2022 and the first fiscal quarter of 2023.

The report shows that while the company has rapidly increased income, it has greatly reduced marketing, management and research and development expenses.

The Tiktok department with byte beating launched an e -commerce plan called Tiktok Shop in the United States in August.People familiar with the matter said the company hopes that this effort will bring more income.