Kingsoft Cloud Holdings ( (KC) ) just unveiled an announcement.
Kingsoft Cloud Holdings Limited announced its unaudited financial results for the fourth quarter and fiscal year ending December 31, 2024, showing significant growth and profitability improvements. The company reported a 29.6% year-over-year increase in total revenues to RMB2,232.1 million, driven by strong demand for AI applications and cloud services. Notably, the company achieved a positive non-GAAP operating profit for the first time, marking a significant milestone in its high-quality, sustainable development strategy. The results highlight Kingsoft Cloud’s successful execution of its strategic initiatives, including expanding AI capabilities and strengthening its ecosystem partnerships with Xiaomi and Kingsoft Group, which saw a 76% year-over-year revenue increase.
More about Kingsoft Cloud Holdings
Kingsoft Cloud Holdings Limited is a leading cloud service provider in China, offering a range of cloud computing services. The company focuses on public and enterprise cloud services, leveraging AI technologies to enhance its offerings across various verticals such as public services, healthcare, and financial services.
YTD Price Performance: 72.45%
Average Trading Volume: 3,878,299
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $4.75B
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