Cheetah Mobile (CMCM) has released an update.
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Cheetah Mobile reported a 12.3% year-over-year revenue growth for Q2 2024, driven by service robotics and AI advancements. Despite the revenue increase, the company faced a rise in operating losses due to investment in AI, though it managed to reduce operating loss compared to the previous quarter and generated significant cash from operations. The company remains committed to long-term growth in the service robotics and AI sectors.
For further insights into CMCM stock, check out TipRanks’ Stock Analysis page.
