China ByteDance Rival Kuaishou Says Operating Loss Quadrupled In 4th Quarter, Covid Creating Uncertainty

China ByteDance Rival Kuaishou Says Operating Loss Quadrupled In 4th Quarter, Covid Creating Uncertainty

Logo atop the Kuaishou Technology headquarters in Beijing. Photographer: Yan Cong/Bloomberg

Kuaishou Technology, a China video and e-commerce platform that competes with larger homegrown rival ByteDance, said on Tuesday its operating loss quadrupled in the fourth quarter of 2021 to 5.79 billion yuan, or about $904 million from 1.37 billion a year earlier amid an increase in marketing and research expenses. Covid-19 outbreak in China was adding uncertainty to the outlook, it noted.