Kingsoft Cloud Holdings Limited (NASDAQ: KC) reported Q2 EPS of ($0.19), in-line with the analyst estimate of ($0.19). Revenue for the quarter came in at $217.2 million versus the consensus estimate of $220.16 million.

“We delivered solid operational and financial results for the second quarter of 2020. Our total revenues increased by 64.1% year-over-year to RMB1,534.8 million, driven by solid growth in both public cloud and enterprise cloud services.” commented Mr. Yulin Wang, Chief Executive Officer of Kingsoft Cloud. “We will continue to invest in technology, such as edge computing, big data, transcoding and others. We are confident that our cutting-edge technology and ability to effectively execute our strategy will ideally position us to capture the growth opportunities the cloud industry will create in the future.”

Business Outlook

For the third quarter of 2020, the Company expects total revenues to be between RMB1.67 billion and RMB1.74 billion, representing a year-over-year growth of 67% to 74%. This forecast reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change.

For earnings history and earnings-related data on Kingsoft Cloud Holdings Limited (KC) click here.