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Kingsoft Cloud Q3 Net Loss Widens, Revenues Up; Sees Growth In Q4 Revenues

Kingsoft Cloud Holdings Ltd. (KC), a cloud service provider in China, reported Wednesday that its third-quarter net loss was 506.7 million Chinese yuan or $78.6 million, wider than prior year's loss of 105.3 million yuan.

Net loss per share was 0.15 yuan or $0.02, compared to net loss of 0.03 yuan in the same quarter of 2020.

Adjusted net loss was 363.7 million yuan or $56.4 million, compared to net loss of 169.1 million yuan last year.

Total revenues reached 2.41 billion yuan or $374.61 million, a growth of 39.6 percent from 1.73 billion yuan a year ago, due to the growth in both public cloud services and enterprise cloud services for premium customers.

Looking ahead for the fourth quarter, the company expects total revenues to be between 2.63 billion yuan and 2.83 billion yuan, representing a year- over-year growth of 37 percent to 47 percent.

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