This article only represents the author's own views.
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%, leading to an 86% narrower net loss to 876 million yuan. On a non-GAAP basis, which excludes non-operating factors such as fair value changes, equity incentive expenses and intangible asset impairments, the company recorded an adjusted profit of 42 million yuan, its first profit since going public.
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