Kingsoft Cloud Holdings Limited (KC) revealed Loss for fourth quarter that decreased from the same period last year and beat the Street estimates.
The company's bottom line totaled -RMB196.959 million, or -RMB0.05 per share. This compares with -RMB284.148 million, or -RMB0.08 per share, last year.
Analysts on average had expected the company to earn -RMB0.82 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 29.6% to RMB2.232 billion from RMB1.722 billion last year.
Kingsoft Cloud Holdings Limited earnings at a glance (GAAP) :
-Earnings: -RMB196.959 Mln. vs. -RMB284.148 Mln. last year.-EPS: -RMB0.05 vs. -RMB0.08 last year.-Revenue: RMB2.232 Bln vs. RMB1.722 Bln last year.
For the fourth quarter, the company posted an adjusted loss of RMB70.3 million, compared with a loss of RMB250.4 million in the same quarter of 2023.
This narrower loss was mainly due to the revenue quality increase, revenue mix adjustment, strict costs and expenses control.
KC was up by 4.53 percent at $18.91 in the pre-market trade on the Nasdaq.
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