Bytedance generated $48 billion in second-quarter revenue, surpassing Meta's $47.5 billion and becoming the largest social media company by revenue. The majority of Bytedance's revenue and nearly three-quarters of its $155 billion 2024 revenue came from China, driven by Douyin's advertising strength and growing live-streaming and ecommerce segments. Douyin's ecommerce operation grew 30% year-over-year in 2024, while the international business rose 63% to $39 billion despite political challenges. Net profit was $33 billion, implying a roughly 25.2% margin. Bytedance remains privately held and continues fundraising amid regulatory risks.
In the second quarter, TikTok parent Bytedance surpassed Meta's quarterly revenue for the first time, rising 25% year-over-year to $48 billion. This narrowly eclipsed the revenue of its U.S. competitor, which brought in $47.5 billion. In flipping Meta, Bytedance became the largest social media company by revenue. However, despite the cultural importance of TikTok, the bulk of the company's impressive performance is coming from within Mainland China.
There, the company's Chinese version of TikTok, Douyin, is doing numbers. It represented the majority of the company's revenue in the latest quarter, thanks to its advertising dominance and other fast-growing segments like live-streaming and ecommerce. Nearly three-quarters of Bytedance's $155 billion in 2024 revenue came from China, per Bloomberg. Notable in the company's growth story was the rapid pace of its ecommerce operation. Per Tech in Asia, Douyin's ecommerce operation grew 30% YoY in 2024.
The company's profit was $33 billion, a modest decline from 2023. That made its profit margin ~25.2% in 2024. That put it between Meta's nearly 40% profit margin and Amazon's 10% margins; a happy medium between a social giant and a fast-growing ecommerce name. Because Bytedance remains a privately-held, privately-traded firm, its financials are collected by analysts, journalists, and private market participants.
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