KC - Kingsoft Cloud down 6% despite Q4 beating estimates

Kingsoft Cloud (KC -5.5%) Q4 shows revenue of $417.37M (+38.3% Y/Y) beats consensus by $6.21M. Revenues from public cloud services increased 12.4% Y/Y; Revenues from enterprise cloud services increased 110.6% Y/Y. Gross billings from core cloud services were increased by 63.8% Y/Y. Net loss was RMB482.2M compared with net loss of RMB105.2M last year same quarter. Non-GAAP EBITDA was RMB-278.0M; compared with RMB-17.5M prior. GAAP EPS of -$0.02 beats consensus by $0.38. Q1 Forecast: Company expects total revenues to be between RMB2.05B and RMB2.15B, representing a year- over-year growth of 13% to 19%. Gross billings from CDN services are expected to decreased by 20%-25%, and core cloud services increased by 49%-55%. The Company also expects adjusted gross margin and EBITDA margin in the first quarter of 2022 will be better than in the fourth quarter of 2021, and the adjusted EBITDA margin breakeven in the fourth quarter of 2022. Previously (March 24): Kingsoft Cloud

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Kingsoft Cloud down 6% despite Q4 beating estimates