Kingsoft Cloud Announces Unaudited Fourth Quarter and Fiscal Year 2024 Financial Results; First Time Operating Margin Profitable with Accelerated Growing Revenue of AI Cloud

Quick Summary:

Our non-GAAP operating profit (loss) turned breakeven for the first time and verified our high quality and sustainable development strategy.Net loss was RMB200.6 million (US$27.5 million), compared with net loss of RMB286.8 million in the same quarter of 2023 and RMB1,061.1 million last quarter.

Fulfillment costs and other costs were RMB102.4 million (US$14.0 million) and RMB82.2 million (US$11.3 million) this quarter.Gross profit was RMB426.0 million (US$58.4 million), representing a significant increase of 68.3% from RMB253.1 million in the same quarter of 2023, demonstrating our improvements in revenue quality and structure, as well as strict cost control.Gross margin was 19.1%, compared with 14.7% in the same period in 2023.

Notably, in this quarter, we are thrilled to report that revenue from Xiaomi and Kingsoft Group increased by 76% year-over-year, validating the effectiveness of our ecosystem strategy.” Fourth Quarter 2024 Financial Results Total Revenues reached RMB2,232.1 million (US$305.8 million), increased by 29.6% year-over-year from RMB1,722.5 million in the same quarter of 2023 and increased by 18.4% quarter-over-quarter from RMB1,885.6 million in the third quarter of 2024.

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Author / Journalist: Kingsoft Cloud Holdings Limited

Category: Technology

Markets: ChinaHong KongMaliUnited States

Topics: US49639K1016 Nasdaq:KC HKSE:3896.HK KYG5264S1012

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Article Type: News Report

Published On: 2025-03-19 @ 13:29:00 (12 hours ago)

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