Kingsoft Cloud : Slips on downbeat Q1 rev outlook

Kingsoft Cloud Holdings

17/03/2021 12:32

** U.S.-listed shares of Beijing-based cloud services
provider  KC.O  down 9.02% to $45.87 premarket 
    ** Co's outlook for Q1 rev between 1.83 bln yuan-1.93 bln
yuan ($281.39 mln-$296.76 mln) misses Refinitiv est. of $2.07
bln
    ** Co says outlook reflects the relative late timing of
Chinese Lunar New Year holiday in Q1 compared with 2020 and
other business operations  urn:newsml:reuters.com:*:nGNX1GMbnF
    ** KC's Q4 rev rose 63.8% to 1.92 bln yuan, aided by growth
in both public cloud services and enterprise cloud services for
its premium customers; narrowly misses expectations of 1.93 bln
yuan - Refinitiv data
    ** However, KC posts Q4 EPS of 0.03 yuan/shr, beating
expectations for loss of 0.61 yuan/shr
    ** Fourteen of 15 brokerages rate the stock "buy" or higher,
and one "hold"; their median PT is $62 - Refinitiv Eikon
    ** As of last close, stock up 15.8% for the year

($1 = 6.5035 Chinese yuan)

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))