TechByteDance’s first-half profit reportedly falls to $20 billion as AI spending rises
The Information reports that revenue rose around 30% to $120 billion in the first half, while net profit declined by a single-digit percentage.
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The Information@theinformationExclusive: ByteDance’s first-half revenue rose around 30% to $120 billion, but its net profit fell to $20 billion as AI spending climbed. The results show the growing cost of ByteDance’s push to compete in AI. Full story: https://thein.fo/4iql29Z
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TI The Information@theinformationExclusive: ByteDance generated $120 billion in first-half revenue, roughly keeping pace with Meta’s growth, according to people familiar with its results. But rising AI investments helped push ByteDance’s profit down by a single-digit percentage to $20 billion. Full story:
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