By Yifan Wang

Kuaishou Technology's revenue jumped 49% in the second quarter, driven by the Chinese tech giant's fast-expanding marketing-services and e-commerce businesses.

The company, which owns a popular short-video platform that competes with TikTok operator ByteDance Ltd., posted revenue of 19.14 billion yuan ($2.96 billion) for the April-to-June period. Its net loss narrowed significantly to CNY7.04 billion from CNY37.60 billion a year earlier.

Kuaishou's topline figure beat analysts' estimates, though its net loss was worse than expected, according to forecasts compiled by FactSet.

The results come as Kuaishou's shares have slid in recent months as Beijing aggressively tightens its grip on China's internet industry. The stock has repeatedly tumbled to record lows in the past month, and on Wednesday closed down more than 70% from its trading debut in February despite having clawed back some ground amid a sector-wide recovery this week.

In early August, Kuaishou slumped more than 15% within one day after it took down a U.S. app and the video-streaming industry faced criticism from a Chinese state-media outlet.

Kuaishou is also among a large group of technology companies that were recently fined by Chinese regulators for having inappropriate content on their platforms.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

08-25-21 0515ET