Kingsoft Cloud Holdings Third Quarter 2023 Earnings: Misses Expectations

Simply Wall St

November 24, 2023

Kingsoft Cloud Holdings (NASDAQ:KC) Third Quarter 2023 Results

Key Financial Results

Revenue: CN¥1.63b (down 18% from 3Q 2022).
Net loss: CN¥785.9m (flat on 3Q 2022).
CN¥3.31 loss per share.

earnings-and-revenue-growth — NasdaqGS:KC Earnings and Revenue Growth November 24th 2023

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

Kingsoft Cloud Holdings Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.4%. Earnings per share (EPS) also missed analyst estimates by 138%.

Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the IT industry in the US.

Performance of the American IT industry.

The company's shares are down 10% from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for Kingsoft Cloud Holdings that you should be aware of before investing here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.