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...It recorded a net loss of almost $91mn in 2023....
...Though TikTok remains unprofitable because of its heavy investment in global expansion, ByteDance as a whole recorded $28bn in net profit for 2023, the people with knowledge of its finances said....
...The financial technology group has also developed a suite of tools helping customers with revenue, tax and billing....
...“No matter the company’s attempt to switch focus from subscribers to financials, net [subscriber] adds is the key metric everyone wants to see,” he said....
...Having Blizzard game licences in its portfolio is not just about the boost to its net income. Crucially it gives NetEase an edge over Tencent, its biggest local rival....
...It is telling that the Chinese government considers the TikTok algorithm a key asset, having included it on a restricted list of technologies in 2020, preventing its export without government approval....
...Those figures, as well as adjusted net income of $1.47bn, all beat the expectations of analysts polled by Bloomberg....
...Take a look at the difference between Uber’s operating profit of $1.1bn and net income of $1.9bn and it is also clear that something beyond rides and food delivery is helping push up profits....
...High-margin services revenues have bolstered net income even as slowing smartphone sales drag on growth. This is the model that regulators have put in peril. elaine.moore@ft.com...
...SIG now owns roughly 15 per cent of ByteDance, a stake worth about $40bn that represents a significant chunk of Yass’s net worth, according to people familiar with the matter....
...Attorney-general Merrick Garland noted that Apple’s net income — which was $97bn in 2023 — “exceeds the GDP of more than 100 countries”, in large part because of the success of the iPhone....
...Where can we go in five years with radiomics, robotic process automation, Crispr gene editing, technology in primary care? This is the last mile of healthcare....
...GitLab joined markets in 2021, part of the rush of technology companies that listed as stock prices peaked. It raised just over $800mn at an $11bn valuation....
...SAP’s announcement “does go to show this is not a net job loss; it’s more of a reskilling”, said TD Cowen analyst Derrick Wood....
...Banks could be at risk too; lower rates would pinch net interest margins, already at record lows, without doing much to curb the pipeline of bad property loans....
...It would also set a dangerous precedent, empowering government to take a heavy hand in designing people’s technology.”...
...Net losses shrunk from $159mn to $91mn in 2023, but it has never reported a profit....
...Uber also reported a net profit of $1.9bn for 2023 compared with a $9.1bn loss in 2022....
...And digital technology allows for much larger DSPs than previously imaginable; some 70,000 Deliveroo customers bought into the online food delivery company’s IPO in London via the PrimaryBid platform....
...By contrast, Reddit, which is trying to build up a largely advertisement-based business, has cumulative losses of over $700mn, including a net loss of $90.8mn in 2023....
...Growth has been stronger in its Braintree unit, which provides unbranded payments technology to merchants. But this is far less lucrative than the branded business....
...BYD’s annual results, published after markets closed in China on Tuesday, follow a more than 400 per cent jump in annual net profit in 2022....
...The group’s bumper profits last year compare with $700mn of net income for 2022 and $1.1bn in 2021....
...In 19 years it has yet to report an annual profit, though lay-offs could produce positive net income in the final quarter of 2023 that would give listing documents a boost....
...SK Hynix reported a net loss of Won1.38tn in the fourth quarter, compared with a net loss of Won3.75tn in the same quarter a year ago. Revenues rose 47 per cent year on year to Won11.3tn....
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