Kuaishou Reports Slower Q2 Revenue Growth as Kling AI Model Surpasses 10 Million Videos
Chinese short video platform Kuaishou announced its second-quarter financial results, revealing an 11.6% year-on-year revenue increase to RMB 30.98 billion ($4.34 billion). This marks the company's slowest quarterly revenue growth in a year. Despite the deceleration in top-line growth, net operating profit more than doubled to RMB 3.9 billion, driven primarily by a 22.1% surge in advertising revenue. The company’s e-commerce sector also showed resilience, with Gross Merchandise Value (GMV) rising 15% to RMB 305.3 billion, although this represents a significant slowdown compared to the nearly 39% GMV growth recorded in the same period last year. CEO Cheng Yixiao attributed the moderation in e-commerce performance to a short-term decline in domestic consumer demand following the 618 shopping festival. On the technological front, Kuaishou highlighted significant progress with its generative AI video model, Kling. Since entering beta testing in June, the Sora-like tool has generated over 10 million videos, signaling the company's strong push into artificial intelligence innovations alongside its core social commerce operations.
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Kuaishou Reports Slower Q2 Revenue Growth as Kling AI Model Surpasses 10 Million Videos
Chinese short video platform Kuaishou announced its second-quarter financial results, revealing an 11.6% year-on-year revenue increase to RMB 30.98 billion ($4.34 billion). This marks the company's slowest quarterly revenue growth in a year. Despite the deceleration in top-line growth, net operating profit more than doubled to RMB 3.9 billion, driven primarily by a 22.1% surge in advertising revenue. The company’s e-commerce sector also showed resilience, with Gross Merchandise Value (GMV) rising 15% to RMB 305.3 billion, although this represents a significant slowdown compared to the nearly 39% GMV growth recorded in the same period last year. CEO Cheng Yixiao attributed the moderation in e-commerce performance to a short-term decline in domestic consumer demand following the 618 shopping festival. On the technological front, Kuaishou highlighted significant progress with its generative AI video model, Kling. Since entering beta testing in June, the Sora-like tool has generated over 10 million videos, signaling the company's strong push into artificial intelligence innovations alongside its core social commerce operations.
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