ByteDance, the owner of TikTok, is on track to achieve profits of around $50 billion in 2025, which will mark a record year for the Chinese social media company, solidifying its presence in e-commerce and new markets. The company has apparently already surpassed its internal target for 2025, which would bring its profits close to those of its American competitor, Meta Platforms, which is expected to make around $60 billion this year. These forecasts come after ByteDance, based in Beijing, reported a net income of about $40 billion in the first three quarters of the current year, which is nearing its end.
