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3w ago

ByteDance Reports 63% Growth in Overseas Sales for 2024, Driven by TikTok

Despite U.S. regulatory challenges and new tariffs, ByteDance's international revenue climbed to $39 billion, with TikTok as the primary driver.

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US President Donald Trump says tariffs that he imposed on China derailed a deal that was coming together for China-based ByteDance to sell TikTok's operations in the United States
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Beijing has reportedly instructed ByteDance to hold off on signing a deal to divest TikTok’s US assets due to the new tariffs imposed by US President Donald Trump. Photo: Reuters

Overview

  • ByteDance's overseas revenue surged 63% in 2024, reaching $39 billion, primarily fueled by TikTok's growth.
  • International sales accounted for one-quarter of ByteDance's total $155 billion revenue, which grew by 29% year-over-year.
  • The company now ranks among the world's top internet firms, alongside Meta Platforms, which reported $164.5 billion in revenue last year.
  • Beijing has reportedly directed ByteDance to pause U.S. divestiture plans for TikTok due to new tariffs imposed by President Donald Trump.
  • ByteDance continues to expand TikTok Shop into international markets like Spain and Ireland, aiming to compete with e-commerce players such as Shein and Temu.