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HONG KONG - Kingsoft Cloud Holdings Limited (NASDAQ:KC) reported better-than-expected second-quarter results, with significant improvement in its bottom line. The cloud service provider’s shares fell 0.95% after reporting financial results.
For the second quarter, Kingsoft Cloud posted a loss of RMB0.11 per share, substantially better than the analyst estimate of a RMB0.97 loss. Revenue reached RMB2.35 billion, surpassing the consensus estimate of RMB2.2 billion.
The company’s performance reflects its continued focus on core businesses, with office software and services showing particular strength. Revenue from this segment increased 14% YoY to RMB1,355.7 million, while the online games and others business saw a 26% YoY decline to RMB951.8 million, primarily due to a high comparison base from the same period last year.
"In the second quarter, we advanced core businesses steadily in line with established strategy and firmly positioned for the future," said Mr. Jun Lei, Chairman of the Company. "Kingsoft Office focused on ’AI, collaboration, and internationalization’, continued to strengthen the allocation of R&D resources in related fields."
Total (EPA:TTEF) revenue for the second quarter amounted to RMB2,307.4 million, representing a 7% YoY decrease. Despite this decline, the company made significant progress with its AI initiatives, launching WPS AI 3.0 and the native Office intelligent agent ’WPS Lingxi’ during the quarter.
The online games business continued to develop its flagship IPs and expand into new game genres. The company’s self-developed sci-fi mech game Mecha BREAK commenced its global public beta in July, topping Steam’s lists for both "Most Played" and "Trending Games" on launch day.
Looking ahead, Kingsoft plans to increase R&D investments in AI and collaboration while continuing to cultivate its gaming IP franchise and advance global expansion efforts.
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