Kingsoft Cloud Reports Strong Q3 Growth Fueled by AI

Kingsoft Cloud Holdings (KC) has released an update.

Kingsoft Cloud Holdings has reported significant growth in its third-quarter financial results for 2024, with total revenues rising by 16% year-over-year to RMB1,885.6 million. The company’s strategic focus on high-quality business segments like AI has notably improved profitability, leading to a 54.6% increase in gross profit and a substantial rise in Non-GAAP EBITDA margin to 9.8%. This performance underscores Kingsoft Cloud’s successful revenue structure adjustment and AI-driven transformation.

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