Kuaishou 2Q23 Results: Further Upside in Margins
What's new: Kuaishou’s reported 2Q23 results were above consensus and our expectations driven by ads and e-commerce. Both segments could remain resilient heading into 3Q, while live streaming could be adversely impacted by the risk control measures. User traffic could remain healthy in the summer months where both DAU and average daily user time spent could sequentially improve in 3Q. We maintain our PT at HKD 95.Analysts:
Jin Yoon
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