KC - Kingsoft Cloud's Q1 Revenue Dip: AI Demand Drives Public Cloud Growth Amid Enterprise Challenges | Benzinga
Kingsoft Cloud Holdings Ltd (NASDAQ:KC) reported a fiscal first-quarter 2024 revenue of 1.78 billion Chinese yuan ($245.9 million), down by 4.8% year-on-year, missing the analyst consensus estimate of $248.3 million.
The decrease was in line with its expectation along with its scaling down of content delivery network (CDN) services, and more stringent project selection of enterprise cloud projects.