Kingsoft Cloud Holdings Limited (KC) reported Q1 EPS of ($0.02), $0.25 better than the analyst estimate of ($0.27). Revenue for the quarter came in at $342.9 million versus the consensus estimate of $312.23 million.
- Our board has authorized the Company to repurchase up to USD$100 million of our ordinary shares in the form of American depositary shares during a twelve-month period. Today, we are pleased to announce that we have entered into a share repurchase program. We believe it demonstrates our board’s and management’s strong confidence in our growth prospect and their commitment to generating long-term value for our shareholders.”
Business Outlook:
For the second quarter of 2022, the Company expects total revenues to be between RMB2.0 billion and RMB2.2 billion, representing a year- over-year growth of -8.0% to 1.2%. It is mainly due to the off-line fulfillment delay of enterprise cloud, amid the short-term Covid-19 resurgence. We will continue to embrace opportunities post pandemic. The Company also expects our adjusted gross margin will be higher in the second quarter than in first quarter and the adjusted EBITDA margin will breakeven in the fourth quarter of 2022. This forecast reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change.