Loading...
Loading...
Cheetah Mobile Inc CMCM reported a third-quarter FY21 revenue decline of 46.3% year-on-year to $30.4 million.
- Revenues from internet business decreased by 50.8% Y/Y to $24.9 million.
- Revenues from the AI and others were $5.5 million, representing an 8.8% Y/Y decline.
- Margin: The non-GAAP gross margin contracted 680 bps to 62.2%.
- Non-GAAP loss per ADS was $(0.05).
- Cheetah held $287.6 million in cash and equivalents.
- "In this quarter, we successfully consolidated the gains of transforming our internet business from a single advertising model to a diversified model of advertising plus subscription. The numbers of our membership kept a double-digit growth," said Sheng Fu, Cheetah Mobile's Chairman, and CEO.
- Outlook: Cheetah sees Q4 revenue of $20.2 million - $27.9 million.
- Price Action: CMCM shares traded higher by 1.26% at $1.59 in the premarket session on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in