TikTok has reported a total revenue of US$4.6 billion in 2023, an increase of nearly 75% from the previous year, in markets outside Asia, Oceania, and the United States.

According to a Companies House filing by TikTok Information Technologies UK, this growth stems from an expanding user base, improved monetization tools for advertisers, and increased live-streaming revenue.

Despite the surge in revenue, TikTok’s operating loss widened by 167% to US$1.4 billion.

The platform’s operating loss margin increased to 30% in 2023, up from 20% in 2022.

These losses are largely due to over US$1 billion in legal provisions.

TikTok did not disclose geographical revenue sources for 2023, but 2022 disclosures indicated that the European Union accounted for 57% of total revenue, followed by the United Kingdom at 22%.

TikTok faces legal scrutiny, having set aside over US$1 billion by the end of 2022 to cover potential liabilities from ongoing regulatory investigations.