Kingsoft Cloud Holdings (KC) has released an update.
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Kingsoft Cloud Holdings reports a promising second quarter in 2024, with a 3.1% year-over-year revenue growth to RMB1,891.8 million and a significant gross margin improvement to 17.1%. The company’s focus on AI integration has doubled its AI revenue contribution to 26% of their public cloud services, indicating a strategic shift that is paying off. Additionally, Kingsoft Cloud experienced a notable year-over-year net loss reduction and an operating cash net inflow, showcasing its effective cost control and sustainable development strategies.
For further insights into KC stock, check out TipRanks’ Stock Analysis page.
