0616 GMT - Kuaishou's 1Q earnings were likely supported by its livestreaming e-commerce business, Citi analysts say in a research note. With continued traffic support for its livestreaming e-commerce business, the Chinese short-video operator's 1Q gross merchandise value could rise 15% on year, the analysts say. Ad revenue growth was likely muted in 1Q due to heavy spending on party games in 1Q 2024 and a scale-back of splash ads, they say. The analysts reckon that investors are concerned about Kuaishou's growth outlook given the high base last year after the ramp-up of short play ads through 2024. The analysts expect increased monetization of shelf-based e-commerce could accelerate its revenue growth. Citi maintains a buy call on Kuaishou with a target price of HK$66.00. Share are last flat at HK$50.75.(sherry.qin@wsj.com)
(END) Dow Jones Newswires
April 28, 2025 02:16 ET (06:16 GMT)
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