AI unit has annual recurring revenue run rate of roughly US$500 million, Kuaishou says
Overall revenue grew 3.4 per cent, but Kling’s revenue surged more than 300 per cent to 650 million yuan in the period, the company said on Wednesday.
“AI technologies continued to provide the momentum for our content prosperity, business growth and organisational efficiency improvement,” Kuaishou said, adding that Kling had claimed the top position in the App Store across 42 markets, including Brazil and Germany.
The company reported a profit of 3.4 billion yuan for the quarter, up 26 per cent from a year earlier, beating estimates of 3 billion yuan.
Shares of Hong Kong-listed Kuaishou dropped 1.1 per cent to HK$45.30 on Wednesday before it announced its earnings.
Source: News - South China Morning Post
