The common man

24 March 2021 By Yawen Chen Follow @ywchen1

The $161 bln Chinese short-video app made more money from advertising than live-streaming for the first time last quarter, and e-commerce revenue popped, mimicking bigger rival Bytedance. Expense growth slowed. That helps cushion a worrying fall in streaming revenue per user.

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China’s Kuaishou on March 23 reported revenue of 18.1 billion yuan ($2.8 billion) in the three months to December, marking a 52.7% rise from the same period in 2019. Full year revenue grew 50.2% to 58.8 billion yuan in 2020.

The short-video company’s adjusted net loss, excluding share-based compensation expenses and fair value changes of convertible redeemable preferred shares, narrowed to 704 million yuan in the three months to December from 962 million yuan in the previous quarter, and shrank 12% from the 803 million yuan loss recorded in the fourth quarter of 2019.

Online marketing services became the largest contributor to Kuaishou’s total revenue in the fourth quarter, surpassing the contribution of live streaming business for the first time. Kuaishou’s gross profit margin increased to 47.0% for the quarter from 39.1% in the period of 2019.

Kuaishou’s average online marketing services revenue per daily active user more than doubled to 31.4 yuan in the three months to December.

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Kuaishou’s average online marketing services revenue per daily active user more than doubled to 31.4 yuan in the three months to December.

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