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Telegram's revenue in the first half of this year reached US$525 million, a year-on-year increase of 190%

Telegram's revenue in the first half of this year reached US$525 million, a year-on-year increase of 190%

CointimeCointime2024/11/26 00:55
By:Cointime

On November 26th, it was reported that financial documents show Telegram's revenue for the first half of this year reached $525 million, a 190% increase from the same period in 2023. Of that, $225 million came from a one-time Toncoin advertising transaction. Telegram saw a significant increase in the value of its digital assets in the first half of 2024, rising from nearly $400 million at the end of last year to $1.3 billion.

According to the documents, nearly half of the revenue ($225 million) came from a one-time transaction with an undisclosed institution. According to the terms of the transaction, Telegram "received compensation" and, in exchange, allowed the cryptocurrency Toncoin to be the sole payment method for small businesses to purchase advertising on the application.

The documents indicate that this exclusive agreement ended on October 1st. Telegram achieved a net profit of $335 million in the first half of this year. These numbers suggest that Telegram was on track for its first annual profit before the arrest of Durov, compared to a full-year revenue of $342 million and a loss of $173 million in 2023.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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