Investing.com - Kingsoft Cloud reported on Wednesday third quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Kingsoft Cloud announced earnings per share of ¥-2.06 on revenue of ¥2.09B. Analysts polled by Investing.com anticipated EPS of ¥-1.77 on revenue of ¥2.25B.
Kingsoft Cloud shares are down 79% from the beginning of the year, still down 85.30% from its 52 week high of ¥22.45 set on November 18, 2021.
Kingsoft Cloud follows other major Information Technology sector earnings this month
Kingsoft Cloud's report follows an earnings beat by Apple on October 27, who reported EPS of ¥1.29 on revenue of ¥90.1B, compared to forecasts EPS of ¥1.26 on revenue of ¥88.76B.
Microsoft had beat expectations on October 25 with first quarter EPS of ¥2.35 on revenue of ¥50.1B, compared to forecast for EPS of ¥2.32 on revenue of ¥49.86B.
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