Revenue at TikTok Owner ByteDance Rose More Than 30% in 2022, Topped $80 Billion

ByteDance, the Chinese owner of TikTok, generated more than $80 billion in annual revenue last year, up more than 30% from roughly $60 billion in 2021, according to two people with knowledge of the figure.

The 2022 result, which hasn’t previously been reported, is significant because most technology companies with that kind of revenue experienced a marked slowdown in growth last year. It also means ByteDance revenue is on par with that of Tencent, an iconic Chinese social media company that owns WeChat. And it shows a substantial majority of ByteDance’s revenue growth came from its core advertising business in mainland China, where it operates Douyin, an app similar to TikTok that has hundreds of millions of daily active users.