This photo taken on April 9, 2021 shows social media influencer and granny Ruan Yaqing scrolling through her channel on video-sharing app Kuaishou, while editing her videos at an office in Beijing.
HONG KONG: Kuaishou Technology reported a 37% gain in quarterly revenue, after the rival to TikTok-owner ByteDance Ltd delved deeper into online commerce and advertising.
Revenue surged to 17 billion yuan (US$2.65bil or RM10.96bil) for the three months ended March, compared with the 16.9 billion yuan (RM10.90bil) projected by China Renaissance. Net loss widened to 57.8 billion yuan (RM37.28bil), versus 30.5 billion yuan (RM19.67bil) a year earlier, as sales and marketing expenses surged to roughly 69% of revenue.
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