ByteDance full-year profit jumps 60%, Bloomberg News says

By Thomson Reuters Apr 10, 2024 | 2:11 AM

(Reuters) – TikTok-owner ByteDance’s profit jumped roughly 60% in 2023, Bloomberg News reported on Wednesday, citing people familiar with the matter.

The company’s earnings before interest, tax, depreciation and amortization (EBITDA) rose to more than $40 billion last year, from about $25 billion in 2022, the report said.

(Reporting by Shreya Biswas in Bengaluru; Editing by Savio D’Souza)