- Kingsoft Cloud Holdings Ltd (NASDAQ: KC) reported FY21 first quarter income progress of 30.4% year-on-year to $ 276.8 million (RMB 1.8 billion), lacking the consensus of analysts of $ 291.33 million.
- Public cloud companies income grew 15.2% 12 months on 12 months to $ 212.4 million (RMB 1.4 billion), and enterprise cloud companies grew 131.3% 12 months on 12 months. 12 months to $ 64.1 million (RMB 420 million).
- Different revenue elevated 93.4% year-on-year to $ 0.3 million (RMB 1.7 million).
- Non-GAAP gross margin elevated 140 foundation factors to six.7% due to continued leverage on economies of scale and a better margin contribution from the enterprise cloud.
- Non-GAAP internet loss declined 10.3% year-on-year to $ 33.3 million (RMB 218.4 million), leading to an EPS lack of $ (0.02) exceeding the analyst consensus lack of ($ 0.15).
- The non-GAAP EBITDA loss margin remained secure at (2.7%).
- Kingsoft held $ 832.7 million (RMB 5.5 billion) in money and money equivalents as of March 31, 2021.
- Recommendation: The corporate sees income forecast for the second quarter of two.13 billion RMB – 2.23 billion RMB.
- Worth motion: KC shares traded up 1.59% to $ 37.63 within the final verify on Tuesday.
© 2021 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.