Stock Track | Kingsoft Shares Plummet 5.12% as Q1 Earnings Miss Expectations

Stock Track
30 May

Kingsoft (03888.HK) saw its shares plunge 5.12% in Friday's trading session following the release of disappointing first-quarter earnings results. The Chinese software and cloud services provider reported figures that fell short of analyst expectations, prompting a sell-off in the stock.

According to the earnings report, Kingsoft Cloud Holdings Ltd, a key subsidiary of Kingsoft, posted a quarterly adjusted loss of 77 fen per share for the quarter ended March 31. This loss was significantly higher than the 47 fen per share loss anticipated by analysts. While the company's revenue rose 10.9% to CNY1.97 billion compared to the same period last year, it still fell short of the CNY2.24 billion expected by Wall Street.

The market's negative reaction to these results highlights investors' concerns about Kingsoft's profitability and growth trajectory. Despite the current setback, it's worth noting that analysts maintain a generally positive outlook on the stock, with an average rating of "buy" and a median 12-month price target of $17.65. However, the company will need to address its performance issues to regain investor confidence and reverse the current downward trend in its stock price.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10