Telegram finances propped up by crypto gains as founder fights charges
Telegram reported a significant financial turnaround in the first half of 2024, posting $525 million in revenue (a 190% increase from 2023) and $335 million in post-tax profit, aided by gains from its digital assets, including $353 million from cryptocurrency sales. The company’s revenue was bolstered by a $225 million deal tied to Toncoin, its associated cryptocurrency, and record growth in ads ($120 million) and subscriptions ($119 million). Despite CEO Pavel Durov’s detainment in France over allegations related to platform criminality, Telegram stated that operations remain unaffected and is enhancing its content moderation practices. Telegram also repurchased $124.5 million of bonds as part of its financial strategy, with bond prices recovering after initial declines.
Source : 💌💌💌
Telegram reported a significant financial turnaround in the first half of 2024, posting $525 million in revenue (a 190% increase from 2023) and $335 million in post-tax profit, aided by gains from its digital assets, including $353 million from cryptocurrency sales. The company’s revenue was bolstered by a $225 million deal tied to Toncoin, its associated cryptocurrency, and record growth in ads ($120 million) and subscriptions ($119 million). Despite CEO Pavel Durov’s detainment in France over allegations related to platform criminality, Telegram stated that operations remain unaffected and is enhancing its content moderation practices. Telegram also repurchased $124.5 million of bonds as part of its financial strategy, with bond prices recovering after initial declines.
Source : 💌💌💌