TikTok owner ByteDance’s revenue up 111per cent to US$34.3 billion in 2020 – source

Its gross profit hit US$19 billion, representing a 93per cent growth year over year while its operating loss was US$2 billion for the year and net loss was US$45 billion, the person said.

(Reporting by Yingzhi Yang and Tony Munroe; Editing by Muralikumar Anantharaman)