Kuaishou revenue rises 33 per cent in third quarter amid Beijing’s tech crackdown, competition with ByteDance

//Kuaishou revenue rises 33 per cent in third quarter amid Beijing’s tech crackdown, competition with ByteDance

Kuaishou revenue rises 33 per cent in third quarter amid Beijing’s tech crackdown, competition with ByteDance

Kuaishou Technology, operator of China’s second-largest short video platform, announced a 33.4 per cent year-on-year rise in revenue for the third quarter, beating expectations as it grapples with Beijing’s crackdown on internet content this year.Revenue for the Hong Kong-listed company, backed by China’s gaming and social media giant Tencent Holdings, reached 20.5 billion yuan (US$3.2 billion) for the quarter ended September, surpassing the expected 20.1 billion yuan, based on a composite…

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By | 2021-11-23T09:12:53+00:00 November 23rd, 2021|Technology|Comments Off on Kuaishou revenue rises 33 per cent in third quarter amid Beijing’s tech crackdown, competition with ByteDance