0521 GMT - Kuaishou Technology's 3Q revenue could rise 11% on year, supported by its advertising and e-commerce businesses, while its livestreaming segment will likely continue to weigh, Citi analysts say in a research note. The Chinese short-video company's gross merchandise value could stabilize in 3Q at 15% on year, driving 17% growth on both e-commerce commission and e-commerce ads, they say. Declines in livestreaming revenues could narrow in 2H due to more content offered and ecosystem improvement, they say. Into 4Q, Kuaishou will likely strengthen influencers' livestreaming e-commerce and content to better compete during China's November shopping festival, they add. Citi maintains a buy call on Kuaishou with an unchanged target of HK$67.00. Shares are last at HK$47.00.(sherry.qin@wsj.com)
(END) Dow Jones Newswires
October 16, 2024 01:21 ET (05:21 GMT)
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