Kingsoft Cloud Holdings Q3 EPS $(0.03) Beats $(0.17) Estimate, Sales $222.75M Miss $244.77M Estimate
Portfolio Pulse from Benzinga Newsdesk
Kingsoft Cloud Holdings (NASDAQ: KC) reported Q3 earnings with a loss per share of $(0.03), surpassing the estimated $(0.17) by 82.35%. Year-over-year, this represents an 89.29% improvement from a $(0.28) loss per share. However, their quarterly sales of $222.75M fell short of the expected $244.77M by 8.99%, and also showed a 19.52% decline from the previous year's $276.77M.
November 21, 2023 | 11:25 am
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Kingsoft Cloud Holdings reported better-than-expected Q3 EPS but missed revenue estimates, with a significant decrease in sales compared to last year.
While the EPS beat may provide a positive sentiment, the miss on revenue and the year-over-year sales decline could raise concerns about growth, potentially leading to a neutral short-term impact on the stock price.
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