Kingsoft Cloud Holdings Q4 Sales $242.60M Beat $242.39M Estimate, Adjusted Net Loss $35.27M
Portfolio Pulse from Benzinga Newsdesk
Kingsoft Cloud Holdings (NASDAQ:KC) reported Q4 sales of $242.60M, slightly above the $242.39M estimate, marking a 0.09% beat. However, this represents a 21.48% decrease from the previous year's sales of $308.97M. The company also reported an adjusted net loss of $35.27M.
March 20, 2024 | 12:41 pm
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Kingsoft Cloud Holdings reported Q4 sales of $242.60M, surpassing estimates slightly but showing a significant year-over-year decline. The adjusted net loss was $35.27M.
The slight beat in sales estimates may provide a short-term positive sentiment, but the significant year-over-year sales decline and the reported net loss are likely to have a negative impact on investor sentiment and the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100