专栏咏竹坊

After first profit announcement, Kuaishou plans share buy back to increase happiness

The short video platform recorded an adjusted profit of 42 million yuan in the first quarter, the first turnaround since its IPO

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More than two years after its IPO, the Chinese-rooted short video platform finally had its first taste of profitability.

Kuaishou Technology (1024.HK) announced last Monday that its revenue in the first quarter of this year rose 19.7% year-over-year to 25.2 billion yuan ($3.55 billion), while gross margin in the period jumped 4.7 percentage points to 46.4%,