Shulou(Shulou.com)11/24 Report--

According to a financial report disclosed to employees on October 9, byte jump's revenue rose nearly 80% to $61.7 billion (439.06 billion yuan) in 2021, and its net loss increased by more than 87% to $84.9 billion (604.148 billion yuan).

According to financial reports shared by byte jump employees, the company's operating income surged nearly 80 per cent in 2021, but expenses also increased sharply over the same period in order to maintain rapid business growth, resulting in an operating loss that more than tripled to more than $7 billion.

The report points out that the byte jump net loss is mainly due to the accounting treatment of those securities. A company rapidly increases its operating income and continues to accumulate huge reserves of cash and other investments, but the end result is dragged down by unrealized market losses on convertible securities (worth tens of billions of dollars).

Byte jump while income is growing, expenditure is also increasing. In 2021, the cost of byte jump sales was $27.4 billion, an increase of 79% over the same period last year; R & D spending was $14.6 billion.

Byte-jump operating losses were $7.15 billion in 2021, up from $2.14 billion in 2020. In the first three months of 2022, byte jump income was $18.3 billion, up nearly 54 per cent from a year earlier, while the net loss for the period was $4.7 billion, down nearly 84 per cent from a year earlier.

In the first three months of 2022, byte-jumping revenue reached nearly $18.3 billion, up nearly 54 per cent from a year earlier. At the same time, the company began to rein in expenses, with a net loss of $4.7 billion for the period, down nearly 84 per cent from $29.1 billion last year.

The decline in first-quarter net loss may be reflected in changes in its valuation, which was valued at $180 billion at the end of 2020 and has suspended its listing plans.

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