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大行評級丨花旗:予快手“買入”評級及目標價66港元 首季收入及調整後盈利超預期
格隆匯 05-28 11:08
花旗發表報告指,快手第一季度總收入按年增長10.9%至326億元,較花旗及市場共識各高出1%。毛利率從去年第四季度的54%略升至54.6%,調整後經營利潤率也從去年第四季度的13.9%升至14.9%,超出該行的預期。按業務劃分,直播收入按年增長14.4%至98億元,較花旗預估高2%;廣告收入按年增長8%至180億元,符合該行的預測;其他收入(主要爲電商收入)按年增長15.2%至48.2億元,較該行的預測高出1%。按地區劃分,國內及海外收入分別按年增長10.1%和33%,經營利潤率分別達13.9%和2.1%。該行認爲,市場將關注快手在未來618活動上的策略及執行、廣告業務能否如管理層早前所預期在次季及下半年加快,以及對可靈AI的更新,予其“買入”評級,目標價66港元。
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