ByteDance Revenue Surges to $29 Billion in Second Quarter, Closing in on Meta

ByteDance is closing the revenue gap with Facebook owner Meta Platforms as it generates more sales from advertising and e-commerce.

The Chinese owner of TikTok saw revenue surge more than 40% to $29 billion in the second quarter from a year earlier, according to people with knowledge of the figures. That’s a far higher growth rate than other advertising-powered internet companies, including Meta, whose revenue rose 11% to $32 billion in the same period.