麦格理发表研究报告，指快手-W(01024.HK) 首季收入按年增长11%，经调整净利润率14%，数据大致符合市场预期。在广告业务稳健增长的支持下，在线营销服务(OMS)收入按年增长8%。虽然商户支援措施在短期内压抑了广告盈利率，但快手仍对广告收入前景充满信心，并强调人工智能整合带来的正面成果。该行预期，集团今年第二季及下半年的OMS收入将分别按年增长10%及16%。
该行表示，快手可灵AI展现出强劲的增长动能，可灵2.0或将进一步提升集团在大型影片模型领域的领先地位，并扩大其AI业务。
该行下调快手今明两年的经调整每股盈测分别8%和9%，又下调集团目标价8%，即由64.7元降至59.8元，续予“跑赢大市”评级。(sl/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-05-27 16:25。)
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