Kwai's revenue in the first quarter increased by 19.7% year-on-year to 25.22 billion yuan, with a net profit of 42 million yuan
On May 22nd, Kuaishou announced its Q1 2023 performance, with a year-on-year increase of 19.7% in total revenue to 25
On May 22nd, Kuaishou announced its Q1 2023 performance, with a year-on-year increase of 19.7% in total revenue to 25.22 billion yuan, surpassing Bloomberg's consensus expectation of 24.5 billion yuan. The contributions of online marketing services, live streaming, and other services (including e-commerce) to revenue are 51.8%, 37.0%, and 11.2%, respectively.
The adjusted net profit of Kwai in the first quarter of 2023 will reach 42 million yuan. Data shows that Kwai's domestic business has achieved operating profit for four consecutive quarters, and Q1's overseas operating loss has narrowed by 45.1% month on month.
In the first quarter, the average DAU of Kwai increased by 8.3% year-on-year to 374 million, and the average MAU increased by 9.4% year-on-year to 654 million. As of Q1, the cumulative number of users following each other reached 29.6 billion, a year-on-year increase of 57.6%.
It is worth noting that the total volume of Kwai e-commerce transactions (GMV) increased by 28.4% year-on-year to 224.8 billion yuan. The monthly average number of settled brands has increased by about 30% year-on-year, and the brand self broadcast GMV has increased by about 70% year-on-year. The number of monthly active buyers and unit price of e-commerce continued to increase year-on-year, and the frequency of monthly orders increased year-on-year.
In the first quarter, online marketing services (advertising) revenue increased by 15.1% year-on-year to 13.06 billion yuan, accounting for 51.8% of the total revenue. Brand advertising revenue has grown by over 20% year-on-year for two consecutive quarters.
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