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Kingsoft Cloud Shares Drop 9.3% to $11.22
Kingsoft Cloud is down -9.3%, or -$1.15 to $11.22.
Kingsoft Cloud Q2 Revenue Exceeds Expectations at RMB 3.07B
Reports Q2 revenue RMB 3.07B, consensus RMB 3.03B. Tao Zou, CEO of Kingsoft Cloud, commented: "We are excited to deliver a quarter of both strong growth and profitability. Gross billings from our AI cloud business grew 82% year-over-year, representing 56% of public cloud revenue, driven by incremental contributions from our AI cloud infrastructure services as well as Model-as-a-Service offerings. Profitability-wise, we recorded positive operating margin for the first time, and our adjusted operating profit margin increased significantly to reach 4.0%, thanks to our improved gross margin and operating efficiency. We remain committed to pursuing high-quality, sustainable growth strategy, deepening collaboration with customers both within and beyond our ecosystem, and strengthening our market position."
Kingsoft Cloud Stock Rises 11.2% to $10.50
Kingsoft Cloud is up 11.2%, or $1.06 to $10.50.
Kingsoft Cloud Shares Rise 7.8% to $9.84
Kingsoft Cloud is up 7.8%, or 71c to $9.84.
Kingsoft Cloud Reports Q1 Revenue of $391.96M
Reports Q1 revenue $391.96M vs. $271.47M last year. Tao Zou, chairman of the board and CEO of Kingsoft Cloud, commented: "We continued to advance our 'High Quality and Sustainable Development Strategy'. The gross billing of AI business grew 90% year-over-year, accounting for more than half of the revenue from public cloud services for the first time. We are excited about the vast opportunities in this new era, from computing power to vertical solutions, as we continued to invest in infrastructure, enhance our capabilities, and strengthen customer base both within and outside of the ecosystem."
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