AIRLINK 186.31 Increased By ▲ 1.39 (0.75%)
BOP 10.28 Increased By ▲ 0.67 (6.97%)
CNERGY 7.53 Increased By ▲ 0.27 (3.72%)
FCCL 37.01 Increased By ▲ 0.58 (1.59%)
FFL 14.66 Increased By ▲ 0.32 (2.23%)
FLYNG 24.39 Increased By ▲ 0.11 (0.45%)
HUBC 129.30 Increased By ▲ 2.89 (2.29%)
HUMNL 13.51 Increased By ▲ 0.71 (5.55%)
KEL 4.45 Increased By ▲ 0.16 (3.73%)
KOSM 5.98 Increased By ▲ 0.04 (0.67%)
MLCF 43.42 Increased By ▲ 1.15 (2.72%)
OGDC 200.97 Increased By ▲ 2.46 (1.24%)
PACE 6.07 Decreased By ▼ -0.01 (-0.16%)
PAEL 39.65 Increased By ▲ 1.90 (5.03%)
PIAHCLA 16.93 Decreased By ▼ -0.16 (-0.94%)
PIBTL 7.81 Increased By ▲ 0.07 (0.9%)
POWER 9.01 Decreased By ▼ -0.21 (-2.28%)
PPL 171.88 Increased By ▲ 3.79 (2.25%)
PRL 34.71 Increased By ▲ 1.96 (5.98%)
PTC 22.35 Decreased By ▼ -0.07 (-0.31%)
SEARL 105.16 Increased By ▲ 3.28 (3.22%)
SILK 1.07 No Change ▼ 0.00 (0%)
SSGC 35.33 Decreased By ▼ -0.20 (-0.56%)
SYM 17.52 Decreased By ▼ -0.40 (-2.23%)
TELE 8.25 Increased By ▲ 0.08 (0.98%)
TPLP 11.70 No Change ▼ 0.00 (0%)
TRG 66.23 Increased By ▲ 0.11 (0.17%)
WAVESAPP 11.75 Decreased By ▼ -0.04 (-0.34%)
WTL 1.53 No Change ▼ 0.00 (0%)
YOUW 3.70 Decreased By ▼ -0.09 (-2.37%)
BR100 11,738 Increased By 128.2 (1.1%)
BR30 34,641 Increased By 524.7 (1.54%)
KSE100 111,378 Increased By 1055 (0.96%)
KSE30 34,797 Increased By 386.1 (1.12%)

BENGALURU: China’s ByteDance-owned TikTok posted revenue of about $16 billion last year in the United States, where the viral video app that has hooked Gen Z users is at the risk of being banned, the Financial Times reported on Friday.

ByteDance’s revenue of $120 billion in 2023 was up about 40% from a year earlier, driven by TikTok’s exploding growth, although China accounts for a big portion of the company’s sales, the FT reported, citing five people with knowledge of the matter.

The short video app, used by about 170 million Americans, achieved record sales in the United States in 2023, according to the report.

ByteDance, nicknamed “App Factory” due to its frequent releases of mobile applications, is on track to overtake Facebook-parent Meta Platforms as the world’s largest social media company by sales, the report added.

Meta’s 2023 revenue rose 16% to $134.90 billion. ByteDance did not immediately respond to a Reuters request for comment. The US House of Representatives on Wednesday overwhelmingly passed a bill that would give ByteDance about six months to divest the US assets of TikTok, or face a ban.

Comments

Comments are closed.