China

ByteDance's gross profit rose 93% to $19 bln last year - WSJ

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The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration

June 17 (Reuters) - TikTok Owner ByteDance's gross profit surged 93% to $19 billion last year, while its net loss for 2020 totaled $45 billion, the Wall Street Journal reported on Thursday, citing a memo.

The company's revenue last year more than doubled to $34.3 billion, the newspaper said.

Reporting by Kanishka Singh and Nandakumar D in Bengaluru; Editing by Himani Sarkar

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