Kingsoft Cloud (NASDAQ:KC – Get Rating) posted its earnings results on Wednesday. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.05), Fidelity Earnings reports. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.19 billion. Kingsoft Cloud had a negative return on equity of 16.91% and a negative net margin of 18.70%. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the company posted ($0.26) EPS. Kingsoft Cloud updated its Q2 2022 guidance to EPS.
Kingsoft Cloud stock opened at $4.85 on Friday. The stock has a 50 day moving average of $4.21 and a 200-day moving average of $8.39. Kingsoft Cloud has a 52 week low of $2.50 and a 52 week high of $37.39.
A number of institutional investors and hedge funds have recently made changes to their positions in KC. Royal Bank of Canada acquired a new stake in Kingsoft Cloud in the third quarter worth $27,000. PNC Financial Services Group Inc. increased its position in Kingsoft Cloud by 220.6% in the first quarter. PNC Financial Services Group Inc. now owns 4,941 shares of the company’s stock worth $30,000 after buying an additional 3,400 shares during the period. Charles Schwab Investment Management Inc. increased its position in Kingsoft Cloud by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 125,644 shares of the company’s stock worth $1,979,000 after buying an additional 3,939 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Kingsoft Cloud by 232.7% during the fourth quarter. Advisors Asset Management Inc. now owns 6,241 shares of the company’s stock valued at $98,000 after purchasing an additional 4,365 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in shares of Kingsoft Cloud during the first quarter valued at $67,000. Hedge funds and other institutional investors own 36.42% of the company’s stock.
Kingsoft Cloud Company Profile (Get Rating)
Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company offers public cloud services to customers in various verticals, including game, video, AI, e-commerce, education, and mobile internet; enterprise cloud services to customers in financial service, public service, and healthcare business, and others.
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