Ge Long Hui·2025-11-27 20:08Core Insights - Kuaishou reported Q3 2025 revenue of 35.554 billion yuan, a year-on-year increase of 14.21% and a quarter-on-quarter increase of 1.45% [1] - Adjusted EBITDA for Q3 2025 reached 7.653 billion yuan, up 37.2% year-on-year, while adjusted net profit was 4.986 billion yuan, reflecting a 26.3% year-on-year growth [1] Revenue Growth - The online marketing revenue for Kuaishou in Q3 2025 was 20.102 billion yuan, marking a 14.0% year-on-year increase, with growth accelerating from 12.8% in Q2 2025 [1] - The DAU and MAU reached 416 million and 731 million respectively, both hitting record highs for three consecutive quarters, with daily usage time averaging 134.1 minutes [1] AI Empowerment - The OneRec model has enhanced the platform's ecosystem, leading to accelerated growth in online marketing revenue [1] - AI technology has significantly improved advertising content creation and distribution, with AIGC marketing materials driving over 3 billion yuan in online marketing service consumption in Q3 2025 [1] E-commerce Performance - Kuaishou's e-commerce GMV reached 385 billion yuan in Q3 2025, a year-on-year increase of 15.2% [2] - The OneSearch model has improved product matching and user experience, increasing search order volume by nearly 5.0% [2] Future Outlook - The company aims to continue enhancing its e-commerce business through AIGC content production and improving merchant efficiency [2] - Kuaishou's Keling AI generated over 300 million yuan in revenue in Q3 2025, with the new Keling AI 2.5 Turbo model achieving significant improvements in content generation [3] Financial Projections - Revenue projections for Kuaishou are estimated at 142.062 billion yuan, 154.990 billion yuan, and 167.064 billion yuan for 2025, 2026, and 2027 respectively, with adjusted net profits of 20.498 billion yuan, 22.915 billion yuan, and 25.308 billion yuan [3]