HK-listed mobile game developer Kingsoft jumps on robust Q3 results

Kingsoft

14/11/2019 02:26

** Shares of Kingsoft Corp Ltd  3888.HK  surge as much as
13.9% to HK$21.05, their highest since June 4, after the online
and mobile game developer posts robust growth in Q3 
    ** Kingsoft is the third most actively traded stock in early
trade 
    ** Says revenue for July-Sept quarter jumped 32% from a year
earlier and was 8% higher, compared with the previous quarter
 urn:newsml:reuters.com:*:nFWN27T0H0
    ** Profit came in at 36 mln yuan ($5.15 mln) for the
quarter, compared with a loss of 59.3 mln yuan in the same
quarter last year
    ** Brokerage Nomura says Kingsoft's Q3 revenue was in line
with expectations and operating margin beat estimates
    ** Beijing-based firm says it is considering a possible
spin-off and separate listing of its cloud storage and cloud
computation services unit, Kingsoft Cloud Holdings Ltd, on a
recognized stock exchange  urn:newsml:reuters.com:*:nFWN27T1EM
    ** Stock is up 63.8% this year, as of Wednesday's close 
    ** Kingsoft has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 1.6 percentage points in the
past one month
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  falls 1.1% on Thursday
    ** The Hang Seng China enterprises index  .HSCE  eases 0.5%,
and the benchmark index  .HSI  slides 0.4%
    

($1 = 6.9941 Chinese yuan renminbi)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)