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Miguel Cordon · · 1 min readTikTok’s Asia business logs rapid revenue growth to reach $5.4b in 2022
TikTok has emerged as one of the most polarizing tech firms lately. Its ecommerce arm TikTok Shop has been posing serious competition to incumbents – particularly in Southeast Asia.
Its Singapore-incorporated entity registered US$5.4 billion in revenue for its 2022 financial year, more than doubling compared to FY 2021, according to its regulatory filings. However, cost of sales still outpaced the firm’s revenue, growing about 106% to US$6.2 billion for FY 2022.
Its total loss, meanwhile, grew 18% year on year to US$2.7 billion. Net cash flows from operating activities fell about 28%, but remained positive at US$291.5 million.
The Singapore-incorporated firm covers Southeast Asia, South Korea, Russia, India, New Zealand, Turkey, and Kazakhstan.
Below are four charts tracking the financials of TikTok’s Singapore-incorporated entity from 2020 to 2022.
Editing by Thu Huong Le and Lorenzo Kyle Subido
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TikTok’s Singapore-incorporated entity also posted a total loss of US$2.7 billion for the year.
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