TikTok’s Beijing, China-based parent ByteDance saw revenue growth slow down last year, according to internal financial documents obtained by The Wall Street Journal.
Ex-Trump accountant who testified that ex-prez lost $1B in 2 years back on the stand in NYC fraud trialAttention TikTokers: It’s not a good idea to smash your own face with a hammer, despite what viral trend may tell youI had a heart attack at 22, here’s what it felt like — and why you should be carefulbehind the wildly popular short-form video app — saw its revenue growth slow last year, according to internal financial documents obtained by The Wall Street Journal.
A ByteDance spokesperson told The Post: “As a private company, we do not provide a valuation or other related information, rendering it impossible for this calculation to be accurate.”The reports The Journal reviewed, which were sent to employees Monday and disclosed full-year financials for 2021 and 2022, as well as the first quarter of 2023, was one of the most detailed looks into the company’s performance yet.
Research and development spending also decreased by $5.9 billion from 2021 to 2022, to $8.7 billion, according to The Journal, while administrative expenses fell from $8.3 billion in 2021 to $4.5 billion in 2022.
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