ByteDance's Q3 Revenue Reaches $30.9 Billion with 43% Growth
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On March 5th, The Information reported that TikTok's parent company ByteDance saw a 43% revenue growth in Q3, reaching $30.9 billion (approximately 222.48 billion RMB), nearly doubling Meta's growth rate, indicating improved advertising and e-commerce performance in the second half of the year.
Private documents viewed by The Information show that ByteDance's revenue grew by 40% in the first nine months of 2023, reaching $84.4 billion (approximately 607.68 billion RMB). It is reported that ByteDance has once again issued a new stock buyback plan to employees, reaffirming that the company has no immediate plans for an IPO.
Bloomberg previously reported that ByteDance's sales in 2023 are expected to grow by 30% to $110 billion (approximately 792 billion RMB), surpassing Tencent.
In December 2023, Securities Times stated that ByteDance would repurchase $5 billion worth of options from investors at $160 per share, corresponding to a valuation of approximately $268 billion (approximately 1.93 trillion RMB), a decline from the $300 billion valuation during the buyback in September 2022.