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https://www.wsj.com/articles/tiktok-parent-bytedance-sees-losses-swell-in-push-for-growth-11665071238
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TikTok parent ByteDance Ltd. saw its operating losses more than triple last year to above $7 billion as it spent heavily to continue its torrid growth, according to a financial report shared with employees that offers a rare look inside the private company’s closely guarded finances.
ByteDance also produced an operating profit in the first quarter of 2022, the report showed, indicating one of the world’s most valuable startups could be turning a corner after years of incurring large losses.
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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.