Cheetah Mobile (CMCM) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Cheetah Mobile has reported an 11.6% year-over-year revenue increase in Q1 2024, driven by its AI segment and the acquisition of Beijing OrionStar, which brought in service robots and large language model capabilities. Despite this growth, the company experienced an increase in operating losses due to higher personnel and hardware-related costs. The shift from consumer to enterprise-facing operations marks a strategic transformation for the company.
For further insights into CMCM stock, check out TipRanks’ Stock Analysis page.