Kingsoft Cloud Q1: Earnings Miss, 14% Topline Decline, Revenue Mix Adjustment & More
Portfolio Pulse from Nabaparna Bhattacharya
Kingsoft Cloud Holdings Limited (NASDAQ:KC) reported Q1 FY23 earnings that missed estimates, with revenue of $271.48 million and an EPS loss of $(0.25). The decline in revenue was mainly due to the scaling down of CDN services and decreases in public and enterprise cloud services. The company's non-GAAP gross margin expanded to 10.4%.
May 23, 2023 | 3:49 pm
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Kingsoft Cloud's Q1 FY23 earnings missed estimates, with revenue and EPS loss lower than expected. The company's stock price is trading lower as a result.
Kingsoft Cloud's Q1 earnings missed estimates, with revenue of $271.48 million and an EPS loss of $(0.25), both lower than expected. This negative news is likely to have a short-term negative impact on the company's stock price, as investors may be concerned about the company's performance and future growth prospects.
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