In brief: TikTok owner barely meets 2018 target amid slowdown in China advertising

Bytedance hit the lower-end of its 2018 revenue target after a sharper-than-projected slowdown in China advertising growth, said people familiar with the matter. The company told investors to expect revenue of US$7.4 billion to US$8.1 billion during its most recent fundraising. This is the first time in years that the owner of short-video app TikTok hasn’t beaten its forecast – due to delayed monetization and dampened ad spending.

Source: Bloomberg