User community reaches a record high. KUAISHOU-W achieved adjusted profit of 2.736 billion yuan in the first half of the year, turning losses into gains compared to the same period last year.
According to the Earnings Report released by KUAISHOU-W on June 30, 2023, the company achieved positive results for the three-month and six-month periods ending on June 30, 2023. In the three-month period, the company's revenue reached 27.744 billion yuan, representing a YoY growth of 27.9%. The net profit for the period was 1.481 billion yuan, turning from a loss to a profit. The adjusted net profit was 2.694 billion yuan, also turning from a loss to a profit. The basic earnings per share were 0.34 yuan. For the six-month period ending on June 30, 2023, the company's revenue reached 52.961 billion yuan, showing a YoY growth of 23.9%. The net profit for the period was 0.605 billion yuan, turning from a loss to a profit. The adjusted net profit was 2.736 billion yuan, also turning from a loss to a profit. The basic earnings per share were 0.14 yuan. In the first half of 2023, as the advertising market gradually recovered, the company enhanced its product capabilities and infrastructure, unlocking the value of high-quality traffic and further improving the monetization efficiency of online marketing services. In the second quarter of 2023, the revenue from online marketing services reached 14.3 billion yuan, with a YoY growth of 30.4%, accounting for 51.7% of the total revenue. The number of active advertisers on the platform almost doubled compared to the same period last year. In the second quarter of 2023, the average daily active users and monthly active users of the Kuaishou app reached 376 million and 673.3 million, respectively, showing a YoY growth of 8.3% and 14.8%. The user community reached a historical high. In the second quarter of 2023, the average daily usage time per active user of the Kuaishou app was 117.2 minutes.
According to the earnings report released by KUAISHOU-W (01024) for the three and six months ended June 30, 2023, the company achieved revenue of RMB 27.744 billion, representing a YoY growth of 27.9% for the three months ended June 30, 2023. During this period, the company recorded a profit of RMB 1.481 billion, turning losses into gains. The adjusted net profit was RMB 2.694 billion, also turning losses into gains. The basic earnings per share were RMB 0.34.
For the six months ended June 30, 2023, the company's revenue reached RMB 52.961 billion, with a YoY growth of 23.9%. The profit for this period was RMB 0.605 billion, turning losses into gains. The adjusted net profit was RMB 2.736 billion, also turning losses into gains. The basic earnings per share were RMB 0.14.
In the first half of 2023, with the gradual recovery of the advertising market, the company enhanced its product capabilities and infrastructure, unlocking the value of high-quality traffic and further improving the monetization efficiency of online marketing services. In the second quarter of 2023, the revenue from online marketing services reached RMB 14.3 billion, with a YoY growth of 30.4%, accounting for 51.7% of the total revenue. The number of active advertisers on the platform almost doubled compared to the same period last year.
In the second quarter of 2023, the average daily active users and monthly active users of the Kuaishou app reached 376 million and 673.3 million, respectively, with a YoY growth of 8.3% and 14.8%. The user community reached a historical high. In the second quarter of 2023, the average daily usage time per active user of the Kuaishou app was 117.2 minutes. Thanks to the rapid growth of daily active users, the total user time of the Kuaishou app continued to grow YoY.
In the second quarter of 2023, the company's e-commerce business made significant progress, with a YoY growth of nearly 39% in total transaction volume.
In the second quarter of 2023, the revenue from live streaming increased by 16.4% YoY to approximately RMB 10 billion. The average revenue contribution from monthly paying users achieved double-digit YoY growth, benefiting from the company's relentless efforts in exploring user preferences and demands, enriching live streaming products, and optimizing the live streaming ecosystem.