大行評級丨大摩:快手首季業績略超預期 上調可靈AI全年收入指引
摩根士丹利發表報告,快手今年首季度收入按年增長10%至180億元,較該行預測高1%。經調整淨利潤爲46億元,超預期2%。月活躍用戶(MAU)、日活躍用戶(DAU)及用戶使用時長均呈健康趨勢,符合快手目標。該行對其目標價爲60港元,評級“與大市同步”。
該行指,根據管理層仍對2025年下半年廣告增速回升至17%至19%區間(high teens)充滿信心,預計第二季度毛利率(GPM)按年基本持平,經調整淨利潤51億元,亦與市場共識大體一致;可靈全年收入指引從6000萬美元上調至1億美元,且存在上行風險。
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