Telegram's Revenue Surges in First Half of 2024

According to BlockBeats, financial documents reveal that Telegram's revenue reached $525 million in the first half of 2024, marking a 190% increase compared to the same period in 2023. A significant portion of this revenue, amounting to $225 million, was derived from a one-time Toncoin advertising transaction. The value of Telegram's digital assets saw a substantial rise, growing from nearly $400 million at the end of last year to $1.3 billion by mid-2024. The documents indicate that nearly half of the revenue came from a one-time deal with an undisclosed institution. Under the terms of this agreement, Telegram received compensation in exchange for allowing the cryptocurrency Toncoin to be the exclusive payment method for small businesses purchasing ads on the platform. This exclusive agreement concluded on October 1. Telegram achieved a post-tax profit of $335 million in the first half of this year. This performance contrasts with the company's financial results for the entire year of 2023, where it recorded $342 million in revenue and a loss of $173 million. These figures suggest that Telegram was on track for its first annual profit before Durov's detention.