"ByteDance Ltd. is on track for profits of roughly $50 billion in 2025, capping a record year for a Chinese social media leader making major inroads into e-commerce and new markets."
"The Beijing-based parent company of TikTok is on track to hit that milestone after amassing net income of about $40 billion over the year's first three quarters, people familiar with the matter said."
"That would take the company's earnings close to that of US rival Meta Platforms Inc., which is projected to earn about $60 billion this year."
ByteDance Ltd. is projected to reach approximately $50 billion in profits in 2025 following record performance and expansion into e-commerce and new markets. Net income amounted to about $40 billion over the first three quarters of the year. The company has surpassed its internal target for 2025 and continues to scale revenue streams tied to social platforms and commerce. The projected profit level would place ByteDance's earnings near those of Meta Platforms Inc., which is expected to earn about $60 billion for the year, narrowing the gap with a major U.S. rival.
Read at Bloomberg.com
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