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快手三季度营收增长14.2%，程一笑详解AI贡献
Guan Cha Zhe Wang·2025-11-20 10:05

Core Viewpoint - Kuaishou's Q3 2025 financial report shows strong growth in revenue and profit, driven by AI integration across its business operations [1][2][7] Financial Performance - Total revenue for Q3 2025 reached RMB 35.55 billion, a year-on-year increase of 14.2% [2] - Operating profit was RMB 5.3 billion, up 69.9% year-on-year [2] - Adjusted net profit stood at RMB 4.99 billion, reflecting a 26.3% increase [2] - Adjusted net profit margin reached 14% [1] User Metrics - Average daily active users (DAUs) for Kuaishou reached 416 million, marking a historical high for three consecutive quarters [1] - Average monthly active users (MAUs) reached 731 million [1] Revenue Breakdown - Core commercial revenue, including online marketing services and e-commerce, grew by 19.2% year-on-year [1][3] - Online marketing services accounted for RMB 20.1 billion, representing 56.5% of total revenue, with a 14% year-on-year growth [3][4] - E-commerce GMV increased by 15.2% to RMB 385 billion [4][5] AI Integration - AI technologies, such as the OneRec recommendation model and G4RL bidding model, contributed approximately 4%-5% incremental revenue to online marketing services [3] - Kuaishou's AI-driven tools significantly reduced marketing material production costs, with over RMB 3 billion spent on AIGC marketing materials in Q3 [3] Live Streaming and Community Engagement - Live streaming revenue reached RMB 9.6 billion, a 2.5% increase year-on-year [5] - The number of signed agencies and streamers increased by over 17% and 20% respectively [5] - Community interaction metrics improved, with daily private message penetration among dual users increasing by over 3% [5] International Business - Kuaishou's international operations recorded a loss of RMB 64 million, a significant reduction from RMB 153 million in the same period last year [6] Future Outlook - The company plans to continue leveraging AI to enhance operational efficiency and user experience, aiming for long-term value creation for shareholders [1][7][10]