Kingsoft Cloud Holdings Ltd ADR Steady Today At $3.22 After Earnings

Kingsoft Cloud Holdings Ltd (KC) reported better than expected earnings this morning for Q4 2023.

reported that it broke-even during the quarter.

Revenues were downbeat at $0.00. Keep in mind that the revenues reported were on an adjusted basis, so they may not be directly comparable to estimates and prior periods.

The stock is steady today at $3.22 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Kingsoft Cloud Holdings Ltd ADR a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 24. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Kingsoft Cloud Holdings Ltd is an independent cloud service provider in China. The company has built a cloud platform consisting of cloud infrastructure, cloud products and industry-specific solutions across public cloud, enterprise cloud, and IoT cloud services. Its products and services are categorized in compute, networking, storage and delivery, database, data analysis, security, video services, and developer services. Geographically, the firm operates in China.