野村:快手(1024.HK)第三季業績勝預期 維持“買入”評級
野村發研報指,快手(1024.HK)第三季業績勝市場及該行預期,總收入按年升33%,其日活躍用户受惠於東京奧運按年上升18%至3.2億,月活躍用户按年升20%至5.73億,皆勝預期。該行維持“買入”評級,惟目標價由122港元下調6.56%至114港元。野村指,快手營銷成本減少,令利潤率改善;另外經調整營業虧損率擴19個百分點至-25%,勝該行預期的-30%;經調整淨虧損擴至48億元人民幣,勝市場及該行預期。
野村指,快手強調最近正在努力提高獲取及保留用户的效率,並減少海外營銷支出以推動利潤率提高,鑑於營銷支出節省產生的潛在槓桿作用,預計快手2022年的營業利潤率將提高9個百分點。
野村將快手第四季收入下調9%,將收入增長預測由73%下調至52%;又將第四季淨利潤率上調10.5個百分點至-25%;將今年收入預測下調6%,上調營業利潤率0.3個百分點。

Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.