Kuaishou Reports 8.7% Revenue Growth in Q4 2024, Driven by E-commerce and Marketing

Kuaishou, a leading short video platform, has released its fourth-quarter and full-year financial results for 2024. The company reported a revenue of 354 billion yuan for the fourth quarter, reflecting an 8.7% year-over-year increase. The net profit for the quarter was 40 billion yuan, up from 36 billion yuan in the same period last year. When adjusted for non-international financial reporting standards, the net profit was 69 billion yuan, compared to 61 billion yuan in the previous year.

The revenue growth was primarily driven by the company's online marketing services and e-commerce business. Online marketing services contributed 206 billion yuan to the revenue, while live streaming services brought in 98 billion yuan. Other services accounted for 49 billion yuan. The total merchandise sales volume through the platform's e-commerce services amounted to 4,620.939 billion yuan, up from 4,039.082 billion yuan in the previous year.

Kuaishou's user base continued to grow, with the average daily active users (DAU) reaching 401 million, up from 382.5 million in the same period last year. The average monthly active users (MAU) increased to 735.6 million from 700.4 million. The average revenue per daily active user from online marketing services was 51.4 yuan, up from 47.6 yuan in the previous year.

For the full year 2024, Kuaishou's total revenue reached 1,269 billion yuan, a 11.8% increase from the previous year. The adjusted net profit for the year was 177 billion yuan, representing a 72.5% year-over-year growth. The company's online marketing services contributed 724 billion yuan to the revenue, while live streaming services brought in 371 billion yuan. Other services accounted for 174 billion yuan.

The company's strong financial performance can be attributed to its ability to attract and retain a large user base, coupled with its diversified revenue streams. Kuaishou's e-commerce business, in particular, has shown significant growth, with the total merchandise sales volume reaching 13,895.823 billion yuan for the year, up from 11,843.708 billion yuan in the previous year. The average revenue per daily active user from online marketing services for the year was 181.3 yuan, up from 158.7 yuan in the previous year.

Kuaishou's financial results for the fourth quarter and full year 2024 highlight the company's continued expansion and dominance in the short video and live streaming market. The company's strong user growth and diversified revenue streams position it well for future growth. Kuaishou's e-commerce business, in particular, has shown significant potential, with the total merchandise sales volume reaching 4,620.939 billion yuan for the fourth quarter, up from 4,039.082 billion yuan in the previous year. The company's ability to attract and retain a large user base, coupled with its diversified revenue streams, positions it well for future growth.