CMCM - Cheetah Mobile down 4% after Q1 report

June, 10 2020 09:47 AM Cheetah Mobile Inc. American Depositary Shares each representing 10 Class

Cheetah Mobile (NYSE:CMCM) reports Q1 revenues of RMB528.1M ($74.6M), down 51.5% Y/Y.
Excluding the impact resulting from the deconsolidation of LiveMe's revenues, total revenues decreased by 36.4% Y/Y.
Revenue breakout: Mobile Entertainment, RMB285.5M (-48.6% Y/Y); Utility products/related services, RMB210.84M (-57.6%) and AI/others, RMB31.76M (flat).
Non-GAAP Gross profit decreased by 47.1% Y/Y to RMB380.4M.
Non-GAAP net loss of RMB97.7M vs. a net income of RMB33.8M year ago.
The Company had cash and cash equivalents, restricted cash, and short-term investments of ~RMB2.35B (~$331.2M).
For Q2, it's guiding to revenues of RMB340M to RMB390M (about $48M-$55M), reflecting that LiveMe's revenues will no longer be included.
Previously: Cheetah Mobile reports Q1 results (June 10)
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Company Name:	Cheetah Mobile Inc. American Depositary Shares each representing 10 Class
Stock Symbol:	CMCM
Market:	NYSE
Website:	cmcm.com