China's Kingsoft Cloud Q1 revenue rises 37.2% on AI growth

Kingsoft Cloud Holdings

27/05/2026 11:46

Overview
China cloud service provider's Q1 revenue rose 37.2% yr/yr to RMB2.7 bln
Company attributed revenue growth to expansion of AI and public cloud services
Gross billing of AI business grew 90% yr/yr, accounting for over half of public cloud revenue

Outlook
Company did not provide specific guidance or forecasts for the current or future quarters in the press release

Result Drivers
AI BUSINESS EXPANSION - Co said gross billing of AI business grew 90% yr/yr, accounting for more than half of public cloud revenue
PUBLIC CLOUD GROWTH - Co attributed revenue growth to expansion of public cloud services, with revenue up 47.5% yr/yr
ENTERPRISE CLOUD PENETRATION - Co said further penetration into enterprise cloud customers contributed to revenue growth

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
 
RMB 2.7 bln
 

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the it services & consulting peer group is "buy."
Wall Street's median 12-month price target for Kingsoft Cloud Holdings Ltd is HK$11.00, about 62.2% above its May 27 closing price of HK$6.78

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)