Telegram's revenue in the first half of this year reached US$525 million, a year-on-year increase of 190%
On November 26, financial documents showed that Telegram's revenue in the first half of this year reached US$525 million, an increase of 190% compared with the same period in 2023. Of that,$225 million came from a one-time Toncoin advertising deal. Telegram's digital asset value increased significantly in the first half of 2024, from nearly US$400 million at the end of last year to US$1.3 billion. According to documents, nearly half of the revenue ($225 million) came from a one-time deal with an unnamed institution. Under the terms of the deal, Telegram was "paid" in exchange for allowing the cryptocurrency Toncoin to become the only payment method for small businesses to purchase ads on the app. The document states that the exclusive agreement terminated on October 1. Telegram achieved after-tax profit of $335 million in the first half of this year. Compared with full-year revenue of US$342 million and a loss of US$173 million in 2023, these figures suggest that Telegram was moving towards its first annual profit before Durov was detained.
Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.