KUAISHOU Q1 revenue grew by 10.9%, with AI revenue exceeding 150 million yuan | Financial Report Insights

Kuaishou's Q1 total revenue increased by 10.9% year-on-year to 32.6 billion yuan, with a year-on-year growth of 10.9%. Adjusted net profit reached 4.6 billion yuan, with an adjusted net profit margin of 14%. All three main business segments achieved growth. Keling AI's operating revenue exceeded 150 million yuan. Currently, Keling AI has been widely applied in various industries such as advertising marketing, short dramas, and smart terminals.

On May 27, Kuaishou released its Q1 2025 performance:

• Total revenue was 32.608 billion yuan, a year-on-year increase of 10.9%.
• Net profit was 3.979 billion yuan, a year-on-year decrease of 3.4%.
• Adjusted net profit was 4.580 billion yuan, a year-on-year increase of 4.4%; net profit margin was 14.0%.
• Operating profit was 4.259 billion yuan, with an operating profit margin of 13.1%.
• Net cash inflow from operating activities was 3.283 billion yuan.

In terms of core business:

• Online marketing service revenue was 17.977 billion yuan, a year-on-year increase of 8.0%.
• Live streaming revenue was 9.814 billion yuan, a year-on-year increase of 14.4%.
• Other services (mainly e-commerce) revenue was 4.817 billion yuan, a year-on-year increase of 15.2%. E-commerce GMV increased by 15.4% year-on-year to 332.3 billion yuan, with significant growth in e-commerce buyers and active merchants.

Driven by AI and a diversified ecosystem, all three main business segments achieved growth

After the launch of Keling AI 2.0, Q1 revenue exceeded 150 million yuan, driving daily AIGC advertising consumption of about 30 million yuan. The multimodal capabilities of the AI large model have entered B-end (advertising), C-end (content creation), and e-commerce intelligent customer service scenarios, with a clear trend of overall efficiency improvement.

The advertising business (online marketing services) generated revenue of 17.977 billion yuan in Q1, up 8.0% year-on-year, slightly lower than the overall growth rate of the platform. The advertising business benefited from AI capability deployment tools (such as UAX, full-site promotion intelligent agent 4.0, etc.). Local life advertising consumption increased by over 50% year-on-year, with outstanding performance in the short drama industry.

Live streaming business revenue was 9.814 billion yuan, showing strong growth of 14.4% year-on-year, reversing the previous downward trend. The platform effectively enhanced the activity of hosts and agencies by strengthening content operations across multiple scenarios and segmented categories (group broadcasts, guilds, etc.). The number of signed agencies increased by 25% year-on-year, and signed hosts increased by 40%.

E-commerce GMV reached 332.325 billion yuan, a year-on-year increase of 15.4%. The average monthly active buyers reached 135 million, and the number of newly registered merchants increased by 30% year-on-year, with the share of general merchandise GMV rising to about 30%.

The e-commerce business significantly lowered the entry threshold for new merchants through AI intelligent tools (smart scripts, live streaming teleprompters, etc.), with small and medium-sized merchants and "influencer distribution" becoming the main drivers of GMV. During the "March 8th Renewal Season," influencer distribution GMV increased by over 30% year-on-year, with some small and medium-sized influencers reaching as high as 50%

Daily Active Users Exceed 400 Million, Overseas Market Achieves Positive Operating Profit for the First Time in a Single Quarter

In the first quarter, the average daily active users reached 408 million (+3.6%), and monthly active users reached 712 million (+2.1%); the average daily usage time per user on the platform was 133.8 minutes, a year-on-year increase of 5.9%, maintaining a high level for multiple quarters.

Overseas revenue was 1.315 billion yuan, a year-on-year increase of 32.7%, achieving positive operating profit for the first time in a single quarter. The internationalization path represented by the Brazilian market has become the main driver of KUAISHOU's overseas growth. Through local content creation and efficient traffic investment, daily active users and user usage time in overseas markets continue to rise, with breakthroughs in both advertising and e-commerce businesses