Kuaishou Sales Top Estimates in Defiance of China Slowdown

Kuaishou’s sales rose 35% to 24.4 billion yuan ($3.8 billion) for the three months ended December, beating the 23.1 billion yuan projected by analysts.

(Bloomberg) — Kuaishou Technology’s revenue beat estimates, defying China’s economic slowdown despite intensifying competition with TikTok-owner ByteDance Ltd.

China’s second-largest short video company is joining its peers in embracing a new era of cautious expansion in the country’s giant internet sector. Its online advertising business is coping with Beijing’s broad scrutiny of industries like insurance and edtech, while livestreaming and e-commerce could suffer from shrinking consumer appetite during Covid-19 lockdowns.