Kuaishou Technology reported a significant increase in its adjusted profit for the third quarter of 2024, rising more than 24% to CNY3.9 billion (USD539 million) compared to the same period last year. Revenue also grew by 11.4%, reaching CNY31.1 billion (USD4.3 billion). Despite these positive financial results, the company's stock fell by 11% in Hong Kong following the report, as concerns emerged regarding a slowdown in advertising and e-commerce gross merchandise volume (GMV). Additionally, Kuaishou's daily active users reached a historic high during the quarter, indicating growth in user engagement amid the challenges faced by the short-video platform market.