Kingsoft Cloud Holdings Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Kingsoft Cloud Holdings (NASDAQ:KC) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥1.89b (up 3.1% from 2Q 2023).
• Net loss: CN¥353.2m (loss narrowed by 29% from 2Q 2023).
• CN¥1.45 loss per share (improved from CN¥2.11 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Kingsoft Cloud Holdings Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 82%.

Looking ahead, revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the IT industry in the US.

Performance of the American IT industry.

The company's shares are up 5.1% from a week ago.

Risk Analysis

You should learn about the 2 warning signs we've spotted with Kingsoft Cloud Holdings.

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