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Reuters reveals TikTok owner ByteDance's H1 revenue better than expected at over $7 billion

Reuters reveals TikTok owner ByteDance's H1 revenue better than expected at over $7 billion

Reuters reported exclusively that China’s ByteDance, owner of video-sharing app TikTok and one of the world’s most valuable unicorns, booked revenue of 50-60 billion yuan ($7 billion to $8.4 billion) in a better-than-expected result for the first half. ByteDance, which was loss-making in the first-half, also posted a profit in June and was confident of making a profit in the second half of the year. Robust growth has led the Beijing-based startup to revise its revenue target for 2019 to 120 billion yuan from an earlier goal set late last year of 100 billion yuan.