Kingsoft Cloud Holdings Ltd (NASDAQ:KC) reported third-quarter FY21 revenue growth of 39.6% year-on-year to $374.6 million (RMB2.4 billion), missing the consensus of $397.2 million. EPS loss was $(0.02).
- Revenues from public cloud services rose 28.7% Y/Y to $261.7 million, and enterprise cloud services increased 77.7% Y/Y to $112.8 million.
- The non-GAAP gross margin contracted 280 bps to 3.8% due to lower than expected utilization of its underlying public cloud infrastructure. The non-GAAP EBITDA margin loss was (5.8)% versus (1.5)% last year.
- Kingsoft held $930.4 million in cash and equivalents and generated $2.2 million in operating cash flow.
- Kingsoft won Pinduoduo Inc (NASDAQ:PDD), a Chinese e-commerce platform, as a new customer this quarter.
- Kingsoft started working with Shouqi, an emerging ride-hailing application.
- Kingsoft is on track to integrate Camelot to build out its enterprise cloud services business.
- Outlook: Kingsoft sees Q4 revenue of RMB2.63 billion - RMB2.83 billion, implying 37% - 47% Y/Y growth.
- Price Action: KC shares traded lower by 3.09% at $19.1 in the premarket session on the last check Wednesday.
关注我们