TikTok reported a revenue of US$4.6 billion in 2023, nearly a 75% increase driven by an expanding user base, improved ad performance, and greater live-streaming revenue.
Despite the revenue growth, TikTok's operating loss widened 167% to US$1.4 billion, largely due to legal provisions exceeding US$1 billion and regulatory investigations.
The company attributed the significant loss margin increase from 20% in 2022 to 30% in 2023 to 'one-off provisions of legal and related matters'.
While not providing a geographical breakdown for 2023, TikTok previously indicated that the EU contributed 57% of revenue, with the UK at 22%.
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