Kingsoft Cloud Holdings Limited (KC) declined in the current market after announcing the date for the fourth quarter and fiscal 2021 results. KC values at $2.56, losing more than 47.75% compared to Friday’s closing price. The stock closed at $4.91 at the end of the last trading session. The stock volume traded in the previous trading session was around 2.76 million shares. The current market cap of the company is about $1.19 billion.
KC to announce Fiscal 2021 results next week
Kingsoft Cloud Holdings Limited (KC) is a China-based independent cloud services provider. As a result, Kingsoft Cloud has developed a robust cloud platform that includes cutting-edge cloud products and industry-specific solutions for both public and private cloud environments.
The company announced in a press release that it would report its unaudited fourth quarter and fiscal 2021 results on March 24, 2022, before the market opens on Thursday. The company’s management will hold the conference at 8:00 AM US Eastern Time on March 24, 2022.
KC: Q3 Key Financials
- KC’s revenues were RMB2.4 billion ($374.61 million) in Q3 gaining 39.6% from RMB1.728 billion in the same quarter of 2020. The gains were attributable to our premium customers’ growth in both public and enterprise cloud services.
- There was a loss of RMB506.7 million ($78.6 million) in the third quarter of this year, compared to a loss of RMB105.3 million in the same quarter of 2020.
- Basic and diluted net loss per share of RMB0.15 ($0.02) was reported by KC in the third quarter of 2021, compared to a net loss per share of RMB0.03 in Q3 2020.
KC: Fourth Quarter Outlook
During the fourth quarter of 2021, Kingsoft Cloud Holdings Limited (KC) expects total revenues to range between RMB2.63 billion and RMB2.83 billion, indicating a growth rate of 37 percent to 47 percent year-over-year.
Conclusion
The company seems optimistic about its outlook, and its revenue has increased significantly in the trailing twelve months. However, its stock has lost 94% value in the last 52 weeks. Its highest in the last 52 weeks was $50.42, and the current price of $2.66 is the lowest in 52 weeks.
