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Kingsoft Cloud Stock Soars on Strong Q2 Results
Kingsoft Cloud shares jumped 10.6% in Wednesday trading after the company reported second-quarter results that beat analyst expectations. The company posted break-even earnings on revenue of roughly $452.8 million, exceeding the average Wall Street estimate of a $0.12 per-share loss and beating revenue forecasts by more than $4 million. Revenue climbed approximately 31% year over year, while gross billings for its AI cloud business increased roughly 82% compared to the prior-year period. Non-GAAP gross margin improved to 15.4% from 14.9% a year earlier. The company's partnership with Xiaomi helped drive billings growth, and management sees continued momentum in AI compute services in the Chinese market.
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Artificial Intelligence › AI Compute Cloud & Neoclouds ▲Demand
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3888.HK · Capital · Positive Reported strong Q2 results beating expectations, with revenue up 31% and AI cloud billings up 82%.
3896.HK · Capital · Positive Q2 results beat estimates with break-even earnings and 31% revenue growth
3896.HK · Demand · Positive AI cloud gross billings rose ~82% year over year on continued AI compute momentum
1810.HK · Demand · Positive Partnership with Xiaomi helped drive billings growth.