《大行報告》中信証券料快手(01024.HK)次季營收年按年升26% 實現經調淨利潤17.52億人民幣
中信証券發表報告,預計快手(01024.HK)收入增速和利潤表現有望好過預期,受惠廣告和電商表現強勁。該行看好快手降本增效戰略推進以及平台生態和商業化增長動力,未來毛利率、銷售費用率和淨虧損率也有望持續優化。維持「買入」評級和90元目標價。
中信証券預計,快手次季營收273.59億元人民幣(下同),按年升26%;直播/廣告/其他(電商為主)收入分別為100.21/140.88/32.49億元,按年升17%/28%/53%;電商商品成交額為2,561.73億元,按年升34%。廣告和電商業務有望帶動整體收入增速超預期。用戶方面,預計次季平台日活躍用戶可達3.71億,按年升7%。同時預計公司次季有望實現經調整淨利潤17.52億元,對應經調整淨利率6.4%,利潤表現有望好於預期。
根據公司次季業績指引和各業務實際經營情況,該行調整對快手今年至後年收入預測分別至 1,142/1,333/1,535 億元,原預測為1,132/1,321/1,520億元。
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