Kingsoft Cloud gains on smaller-than-expected Q3 loss

Kingsoft Cloud Holdings

20/11/2024 13:48

** U.S.-listed shares of Kingsoft Cloud  KC.O   3896.HK 
rise 21% premarket
    ** The Chinese cloud services group reported a quarterly
loss of 0.29 Chinese yuan per share, compared with an ​LSEG's
mean analyst estimate of a loss of 1.06 Chinese yuan per share
    ** "The accelerated growth of high-quality business, such as
AI, has offset the decline in the low-margin CDN business due to
strategic proactive adjustments," the company said
    ** Up to last close, shares were up 21.4% YTD

 (Reporting by Joao Manuel Mauricio)
 ((JoaoManuel.VicenteMauricio@thomsonreuters.com))