China

Kuaishou revenue rises 33 per cent in third quarter amid Beijing’s tech crackdown, competition with ByteDance




Kuaishou Technology, operator of China’s second-largest short video platform, announced a 33.4 per cent year-on-year rise in revenue for the third quarter, beating expectations as it grapples with Beijing’s crackdown on internet content this year.Revenue for the Hong Kong-listed company, backed by China’s gaming and social media giant Tencent Holdings, reached 20.5 billion yuan (US$3.2 billion) for the quarter ended September, surpassing the expected 20.1 billion yuan, based on a composite…



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