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Published on November 22nd, 2022 📆 | 6675 Views ⚑

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Kuaishou Technology 3Q Loss CNY2.71B Vs. Loss CNY7.09B >1024.HK


https://www.ispeech.org/text.to.speech

By Yifan Wang


Kuaishou Technology said its third-quarter loss narrowed despite soft revenue growth, as the company stepped up cost-saving efforts amid China's slowing economy.

The Chinese short-video platform operator on Tuesday posted net loss of 2.71 billion yuan ($378.2 million), compared with a loss of CNY7.09 billion a year earlier.

Revenue rose 13% to CNY23.13 billion, driven by the continued strength of its live-streaming business, Kuaishou said.

However, the company said its advertising revenue growth slowed due to "macroeconomic headwinds" in China.


Write to Yifan Wang at yifan.wang@wsj.com


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