2024-06-05 01:23:34 ET
Summary
- KC's YoY top-line contraction narrowed substantially in Q1 2024 as a result of strong AI-related revenue growth.
- Kingsoft Cloud recorded its first quarter of EBITDA profitability in its history for Q1 2024, thanks to revenue mix optimization and expense management.
- The Company is at an infection point given expectations of positive revenue expansion and positive EBITDA for full-year 2024, which supports my upgrade to a Buy rating.
Elevator Pitch
My rating for Kingsoft Cloud Holdings Limited ( KC ) [3896:HK] is a Buy. I analyzed Kingsoft Cloud's Q4 2023 financial performance with my prior update written on March 22, 2024....
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Kingsoft Cloud Is At An Inflection Point (Rating Upgrade)