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Likes ReceivedTikTok's parent company ByteDance reportedly saw a 60% profit growth in 2023. According to Bloomberg, this means the company's revenue and profit surpassed its rival Tencent (0700) for the first time, demonstrating resilience during economic downturns. ByteDance's spokesperson has not yet responded. The report cites anonymous sources stating that ByteDance's EBITDA increased to over $40 billion, up from approximately $25 billion in 2022. Revenue also grew from $80 billion to nearly $120 billion.
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