智通财经APP获悉，快手-W(01024)涨超4%，截至发稿，涨4.02%，报89.2港元，成交额46.77亿港元。
花旗发布研报称，快手-W或于11月中旬公布今年第三季度业绩，花旗维持预估，收入及利润与市场预期一致。商品交易总额(GMV)增长可能保持约15%的按年增幅，直播电商复苏及货架基础电商势头不错。其他收入增长可能因佣金抽成率提高、电商增值服务变现以及可灵的推广而加速。
除了核心业务外，花旗认为，投资者可能关注管理层是否对可灵AI2025财年收入前景更乐观。对于即将到来的双十一折扣日，花旗认为，快手会简化折扣策略，并为商家提供AI技术支援，以推动商品交易总额增长。
花旗预测，快手第三季度总收入按年13%，达到352亿元人民币，符合市场预期，其中广告、其他收入、直播收入分别按年增长12%、36%、5%，得益于商品交易总额按年增长15%。毛利率预计为55%；调整后营业利润率预计为14%，低于2025年第二季度的17%，主要由于市场推广支出增加。因此，调整后盈利预计为48.6亿元人民币，符合市场预期。
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