![ByteDance Posts Record Profit, Surpasses Tencent and Alibaba](https://metanews.com/wp-content/uploads/2023/04/ByteDance-Posts-Record-Profit-Surpasses-Tencent-and-Alibaba-1-300x169.jpeg)
ByteDance Posts Record Profit, Surpasses Tencent and Alibaba
Despite facing mounting losses in its fast-growing TikTok business unit, ByteDance managed to surpass China’s long-standing tech giants Tencent and Alibaba for the first time by generating a record underlying profit last year. ByteDance reported a 79% surge in earnings