Kingsoft Cloud Hldgs: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Kingsoft Cloud Holdings (NASDAQ:KC) reported Q3 earnings with an EPS of $-0.18, missing estimates by 5.88% compared to the expected $-0.17. Revenue decreased by $54.01 million from the same period last year. In the previous quarter, the company beat EPS estimates which led to a 1.57% increase in share price the following day. Historical earnings performance shows variability in meeting EPS estimates.
November 21, 2023 | 11:30 am
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Kingsoft Cloud Holdings reported lower than expected Q3 earnings and a significant year-over-year revenue decline, which may negatively impact investor sentiment and the stock price in the short term.
Missing earnings estimates and reporting lower revenues compared to the previous year are typically seen as negative indicators for a company's financial health and often result in a negative short-term reaction in the stock market. However, the company's past performance shows that it has previously beaten EPS estimates, which could mitigate the impact.
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