Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens West window, Mr. Aviation, lemon_meta for the delivery of clues! According to CTOnews.com news on August 22, Kuaishou today released its financial results for the second quarter of 2023 ending June 30. The CTOnews.com summary is as follows:

Kuaishou's revenue in the second quarter was 27.74 billion yuan, with an estimated 27.29 billion yuan, an increase of 27.9% over the same period last year, mainly due to the growth of online marketing services, live streaming and e-commerce business.

The adjusted net profit is 2.69 billion yuan, with an estimated 1.43 billion yuan, compared with a net loss of 1.31 billion yuan in the same period last year.

Adjusted EBITDA 4.32 billion yuan, an increase of 957.8% over the same period last year

The average number of monthly active users is 670 million, with an estimated 650 million.

Kuaishou officials said the company continued to grow in the second quarter of 2023 and reached another important earnings milestone, achieving quarterly net profit at the group level for the first time since listing on the Stock Exchange in 2021.

In the second quarter of 2023, the average number of daily active users and monthly active users of Kuaishou apps reached 376 million and 673.3 million, an increase of 8.3% and 14.8% respectively over the same period last year, and the size of the user community reached an all-time high. In the second quarter of 2023, the average number of daily active users of Kuaishou app was 117.2 minutes. Thanks to the rapid growth in the number of daily active users, the total number of users of Kuaishou apps continues to grow year-on-year.

In the second quarter of 2023, the average number of monthly users of Kuaishou search exceeded 440 million, and the average number of daily searches on the platform increased by 30 per cent compared with the same period last year. At the same time, benefiting from the growth of search traffic, product upgrades and the improvement of matching efficiency brought about by iterative advertising algorithms, Kuaishou has continued to make progress in the commercialization of search functions, with search advertising revenue doubling in the second quarter of 2023 compared with the same period last year. In addition, Kuaishou is also testing Kuaishou search intelligent question and answer products internally, making use of the technical capabilities of large language models to improve the intelligence of search.

In the second quarter of 2023, Kuaishou online marketing service revenue reached 14.3 billion yuan, an increase of 30.4% over the same period last year, accounting for 51.7% of total revenue. The number of active advertisers on the platform almost doubled in the second quarter of 2023 compared with the same period last year.

In the second quarter of 2023, Kuaishou live streaming revenue increased by 16.4% year-on-year to about 10 billion yuan, and the average income contribution of monthly paying users achieved double-digit year-on-year growth.

Overseas, in the second quarter of 2023, Kuaishou's total overseas business revenue reached 447 million yuan, an increase of more than 300% compared with the same period last year. At the same time, Kuaishou continues to reduce costs and increase efficiency. The overall overseas operating loss fell 51.4% in the second quarter of 2023 compared with the same period last year, and the month-on-month loss also narrowed further.

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