Investing.com - Kingsoft Cloud reported on Tuesday third quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Kingsoft Cloud announced earnings per share of -0.22 on revenue of 1.91B. Analysts polled by Investing.com EPS of -1.8 on revenue of 2.15B.
Kingsoft Cloud 's are down 83% and is trading at 2.54 , still down 93.00% from its 52 week high of 36.31 set on Tuesday, September 7, 2021.
Kingsoft Cloud shares lost 15.73% to trade at 2.54 in intra-day trade the report.
Kingsoft Cloud follows other major Information Technology sector earnings this month
Kingsoft Cloud's report follows an earnings beat by NVIDIA on Wednesday, August 24, 2022, who reported EPS of 0.51 on revenue of 6.7B, EPS of 0.4991 on revenue of 6.7B.
Broadcom had beat expectations on Thursday with third quarter EPS of 9.73 on revenue of 8.46B, for EPS of 9.56 on revenue of 8.41B.
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