Meta vs TikTok: Revenue, Profit and Business Model
Meta reported $201B of revenue in FY2025 and $60.5B of net income. TikTok reported $39B of revenue in FY2024 and — of net income.
Latest financial snapshot
Financial summary
Meta
Meta's revenue grew from $116.609B in 2022 to $200.966B in 2025, and net income rose from $23.2B to $60.458B. FY2025 income from operations was $83.276B. In 2026 the story is spending: Q2 2026 costs rose 55% to $42.03B, the operating margin fell to 31% from 43%, and quarterly capex of $31.08B left free cash flow at $784M. Meta had $90.26B of cash and marketable securities and $83.66B of long-term debt at June 30, 2026. It expects 2026 total expenses of $165-169B and still expects 2026 operating income to exceed 2025.
TikTok
TikTok does not publish financial statements, and ByteDance is private, so every figure here comes from press reports or estimates. Bloomberg reported that ByteDance's international revenue, mostly TikTok, was about $39 billion in 2024. For 2025, the Wall Street Journal reported ByteDance group revenue up 29% to about $200 billion and net profit of about $42 billion. Chinese outlet 36Kr separately reported that overseas revenue grew nearly 50% and passed 30% of the group total, driven by TikTok Shop, although its profit reporting differed. In the first half of 2026, the WSJ said ByteDance revenue rose more than 30% to $120 billion while net profit eased to $20 billion because of AI spending. A private share sale in 2026 reportedly valued ByteDance at more than $600 billion.
Revenue and profit by year
Meta
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $201B | $60.5B | 30.1% | +22.2% | Source |
| FY2024 | $164.5B | $62.4B | 37.9% | +21.9% | Source |
| FY2023 | $134.9B | $39.1B | 29.0% | +15.7% | Source |
| FY2022 | $116.6B | $23.2B | 19.9% | -1.1% | Source |
| FY2021 | $117.9B | $39.4B | 33.4% | +37.2% | Source |
| FY2020 | $86B | $29.1B | 33.9% | +21.6% | Source |
| FY2019 | $70.7B | $18.5B | 26.1% | +26.6% | Source |
| FY2018 | $55.8B | $22.1B | 39.6% | +37.4% | Source |
| FY2017 | $40.7B | $15.9B | 39.2% | +47.1% | Source |
| FY2016 | $27.6B | $10.2B | 37.0% | — | Source |
TikTok
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2024 | $39B | — | 0.0% | — | Source |
Where the revenue comes from
Meta
- Advertising
~97.6% (FY2025)
Ads across Facebook, Instagram, Messenger, Threads and WhatsApp; $196.175B in FY2025.
- Other revenue and Reality Labs
~2.4% (FY2025)
WhatsApp Business messaging, Meta Verified subscriptions, Quest headsets and Ray-Ban Meta glasses.
TikTok
- Advertising
Not disclosed
In-feed video, Spark Ads, TopView and branded effects sold through TikTok Ads Manager; the largest revenue line.
- TikTok Shop commerce
Not disclosed
Referral commissions and fees on sales through shoppable videos, LIVE shopping and creator affiliates; reported as the fastest-growing line in 2025.
- LIVE virtual gifts
Not disclosed
TikTok's share of coins viewers buy to send gifts to livestreaming creators.
Business model and strategy
Meta
How it makes money
Meta makes money by selling ads. Facebook, Instagram, Messenger, WhatsApp and Threads are free to use, and advertisers pay to reach people in feeds, Stories, Reels and click-to-message formats. Advertising produced $196.175B of Meta's $200.966B FY2025 revenue, about 97.6%. Q2 2026 growth came from 14% more ad impressions and a 12% higher average price per ad.
Growth strategy
Meta's growth plan runs through AI. Better ranking and ad-delivery models raise engagement on Reels and feeds and lift ad prices, which drove the 28% revenue growth in Q2 2026. Meta Superintelligence Labs, led by former Scale AI CEO Alexandr Wang, released the first Muse Spark model in April 2026, followed by a paid API and the Muse consumer AI agent in September 2026.
Competitive advantage
Meta's moat is distribution plus data. Its apps reach 3.60 billion people every day, so new products such as Threads, Meta AI and Muse can launch to a huge audience at once. Advertisers stay because Meta's AI ad tools such as Advantage+ convert across that audience at a scale only Google matches. Meta also owns its compute, custom MTIA chips and frontier models, which reduces its dependence on outside AI suppliers.
TikTok
How it makes money
TikTok makes money in three main ways. Advertising is the largest: brands and performance marketers buy in-feed video ads, Spark Ads, TopView placements and branded effects through TikTok Ads Manager.
Growth strategy
TikTok's growth now leans on commerce and monetization depth more than on user growth. TikTok Shop is the main bet: Chinese media reports on ByteDance's 2025 results credited e-commerce with much of the near-50% rise in overseas revenue.
Competitive advantage
TikTok's advantage comes from algorithmic discovery, creator network effects, mobile-first engagement, commerce integration, cultural relevance, advertiser demand, and ByteDance product infrastructure.
Questions about Meta vs TikTok
Which company has higher revenue — Meta Platforms, Inc. or TikTok?
Meta Platforms, Inc. reported $201.0B (FY2025), while TikTok reported $39.0B (FY2024). By last reported revenue, Meta Platforms, Inc. is the larger business, with TikTok reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Meta Platforms, Inc. vs TikTok?
Meta Platforms, Inc. has a market capitalisation of $1.90T. A public market cap figure for TikTok was not available (it may be privately held).
Which is more financially efficient — Meta Platforms, Inc. or TikTok?
Meta Platforms, Inc. generates $2.66M / employee in revenue per employee, while TikTok generates $260k / employee. Meta Platforms, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Meta Platforms, Inc. and TikTok make money?
Meta Platforms, Inc. and TikTok generate revenue in fundamentally different ways. Meta Platforms, Inc.: Meta makes money by selling ads. TikTok: TikTok makes money in three main ways.
Is Meta Platforms, Inc. bigger than TikTok?
By last reported revenue, Meta Platforms, Inc. ($201.0B (FY2025)) is the larger company compared to TikTok ($39.0B (FY2024)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Meta vs TikTok overview