Kingsoft Cloud reports Q3 EPS 0c vs. (4c) last year

Reports Q3 revenue $348.09M vs. $268.7M last year. Tao Zou, CEO of Kingsoft Cloud (KC), commented, “This quarter, our steadfast belief in, and unwavering execution of the ‘High quality and Sustainable Development Strategy’ continued to deliver strong results. We are excited to announce further accelerated topline growth of 16%, with fast-increasing Non-GAAP EBITDA margin reaching 9.8% in the third quarter of 2024. In particular, AI business continued to expand to RMB362 million, accounting for approximately 31% of public cloud revenue. Meanwhile, as we wholeheartedly embrace the Xiaomi and Kingsoft Ecosystem and tap into the vast tangible opportunities from EV car, LLM to WPS AI, to name a few, we grew our revenues from the Ecosystem by a significant year-over-year increase of 36%. We are confident that we are on the right track and momentum to building more success in the future.”