Kingsoft Cloud Holdings Q2 Sales CNY1.892B Beat CNY1.828B Estimate, With Adjusted Net Loss Of CNY301.07M Vs. CNY314.96M YoY
Portfolio Pulse from Benzinga Newsdesk
Kingsoft Cloud Holdings reported Q2 sales of CNY1.892 billion, surpassing the estimated CNY1.828 billion. The company also reported an adjusted net loss of CNY301.07 million, an improvement from the previous year's CNY314.96 million loss.
August 20, 2024 | 11:30 am
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Kingsoft Cloud Holdings exceeded Q2 sales expectations with CNY1.892 billion, and reduced its adjusted net loss to CNY301.07 million from CNY314.96 million YoY, indicating improved financial performance.
The company's ability to surpass sales estimates and reduce its net loss compared to the previous year suggests improved operational efficiency and financial health, which is likely to positively impact the stock price in the short term.
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