#ByteDance's sales in 2023 will be $110 billion#On December 20, according to foreign media reports, ByteDance's sales in 2023 will reach $110 billion, surpassing Tencent. In this regard, ByteDance did not respond.
In fact, it is expected that ByteDance's revenue will surpass Tencent's this year. ByteDance's revenue rose more than 40% in the second quarter to $29 billion, compared with about $54 billion in the first half. Last year, ByteDance's annual revenue was $85 billion, up 38% year-on-year.
Tencent's financial report shows that in the first half of this year, its revenue was about 299.2 billion yuan, or about 41.3 billion US dollars, a year-on-year increase of 11%.
ByteDance's main revenue comes from domestic advertising and e-commerce, but TikTok in overseas markets has become its revenue driver and has a high growth expectation. Recently, the e-commerce business affected by the new policy in the Indonesian market has taken a turn for the better, and TikTok has completed its return through the acquisition of local companies, which has become a major positive for the platform.
In recent years, TikTok has led the rapid growth of ByteDance's overseas revenue. In contrast, Tencent has maintained more stable development in the domestic market. The success of going overseas may become an important factor for bytes to surpass Tencent in revenue.
