ByteDance’s revenue in Q2 surpassed Tencent, narrowed gap to Alibaba and Meta
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TikTok owner ByteDance threatens the positions of traditional Chinese tech firms with $29 billion in Q2 revenue and 40% YoY growth. ByteDance surpassed Tencent in sales but failed to overtake Alibaba. Most earnings came from advertising and e-commerce, with 20% from overseas markets.
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