Kuaishou posts 33% revenue jump in Q3 as active users reach record highs

China-based short video app Kuaishou has reported a 33.4% climb in revenue for the third quarter of 2021, jumping to 20.5 billion yuan (US$3.2 billion) from about US$2.4 billion in the same period last year.

Kuaishou founders Su Hua (left) and Cheng Yixiao / Photo credit: Kuaishou

The increase was mainly driven by a 76.5% lift in its revenue from online marketing, which stood at US$1.7 billion in Q3 2021. Meanwhile, the company’s livestreaming arm contributed 37.7% of its total revenues, or roughly US$1.2 billion.

The TikTok rival saw its average daily active users (DAU) reach 320.4 million for the third quarter, a 17.9% jump from 271.7 million a year ago. The average daily time spent by these DAUs also saw a 35% growth to 119.1 minutes from 88.2 minutes in Q3 last year.

Kuaishou’s average monthly active users (MAUs) stood at 572.9 million, representing an increase of 19.5% from Q3 2020.

“The average MAUs, DAUs, and average daily time spent per DAU on Kuaishou app all reached new record highs,” said Cheng Yixiao, co-founder and CEO of Kuaishou. “We further strengthened our monetization capabilities during the quarter by building upon the ongoing increase in our public and private domain traffic.”

Currency converted from yuan to US dollar: US$1 = 6.39 yuan.