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

On November 26th, according to FT, financial documents show that Telegram's revenue in the first half of this year reached $525 million, an increase of 190% compared to the same period in 2023. Among them, $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 unnamed institution. According to the transaction terms, Telegram "received a reward" in exchange for allowing the cryptocurrency Toncoin to become the only payment method for small businesses to purchase advertisements on the application. The document states that this exclusive agreement was terminated on October 1st. Telegram achieved a post tax profit of $335 million in the first half of this year. Compared to its full year revenue of 342 million US dollars and loss of 173 million US dollars in 2023, these figures indicate that Telegram is moving towards its first annual profit before Durov's detention.