Kingsoft Cloud Holdings Limited (KC) Reports In-Line Q2 EPS, Revenues Miss

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Go back to Kingsoft Cloud Holdings Limited (KC) Reports In-Line Q2 EPS, Revenues Miss

Kingsoft Cloud Announces Unaudited Second Quarter 2020 Financial Results

August 18, 2020 6:31 AM EDT

BEIJING, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited (Kingsoft Cloud or the Company) (NASDAQ: KC), a leading independent cloud service provider in China, today announced its unaudited financial results for the second quarter ended June 30, 2020.

Second quarter 2020 Financial Highlights

Total revenues were RMB1,534.8 million (US$1217.2 million) in the second quarter of 2020, representing an increase of 64.1 % year-over-year.Gross profit was RMB80.7 million (US$11.4 million) or 5.3% gross margin in the second quarter of 2020, compared with gross loss of RMB20.3 million... More