The AI Revolution Behind Kuaishou's Financial Report: A New Paradigm for Digital Content Ecosystem
Kuaishou demonstrated the great potential of deep integration of technology and business with an earnings report that exceeded expectations. As the competition for digital content enters the second half, for Kuaishou, AI is no longer a future imagination but the core engine of current growth.
Kuaishou's latest financial report data is impressive: revenue of 35 billion yuan, a year-on-year increase of 13.1%, adjusted net profit of 5.6 billion yuan, a year-on-year increase of 20.1%, both exceeding expectations. But more noteworthy than the data itself is that Kuaishou shows a trend of high-quality growth, with gross profit margin and adjusted net profit margin reaching 55.7% and 16.0%, respectively, both breaking historical peaks.
Among them, the AI business has become the biggest highlight. Kuaishou CFO Jin Bing further revealed that Kuaishou AI's annual revenue in 2025 is expected to double the initial target. This marks Kuaishou's successful transformation from a pure short video platform to an AI-driven digital content ecosystem.
All business lines are flourishing, and the quality of growth exceeds expectations
Looking at Kuaishou's performance in the second quarter of 2025, it shows a comprehensive positive development trend. Revenue reached 35.046 billion yuan, a year-on-year increase of 13.1%, setting a new high for growth rate in the past five quarters. This growth rate is particularly rare in the current macroeconomic environment, showing the strong resilience of Kuaishou's core business.
Profit performance is even more impressive. Adjusted net profit reached 5.618 billion yuan, a year-on-year increase of 20.1%, not only setting a historical high but also exceeding the revenue growth rate by 7 percentage points. This indicates that Kuaishou's growth is no longer just a simple scale expansion but high-quality, efficient growth.
In terms of business segments, online marketing service revenue reached 19.765 billion yuan, a year-on-year increase of 12.8%; live broadcast revenue reached 9.725 billion yuan, a year-on-year increase of 9.0%; other services (including e-commerce) revenue reached 5.556 billion yuan, a year-on-year increase of 27.3%. The three major business segments are advancing side by side, showing a good trend of balanced development.
Kuaishou's e-commerce business performance is particularly outstanding. GMV in the second quarter increased by 17.6% year-on-year, reaching 358.879 billion yuan, setting a new high for growth rate in the past five quarters. The average monthly number of buyers reached 134 million, continuing to grow year-on-year, and the frequency of user repurchases is also constantly increasing. This means that Kuaishou e-commerce is forming a virtuous growth cycle: more buyers bring more transactions, more transactions attract more sellers to settle in, further enriching the supply side.
AI commercialization accelerates, from cost center to profit engine
Kuaishou AI business achieved leapfrog development in this quarter, becoming the most eye-catching highlight in the financial report. Kuaishou AI's single-quarter revenue exceeded 250 million yuan, a quarter-on-quarter increase of 67%. More impressive is its commercialization process far exceeding expectations.
Jin Bing said in the earnings call:
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