Kingsoft Cloud Holdings (KC) has released an update.
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.
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