Kingsoft Cloud Holdings Ltd. (KC) has released an update.
Kingsoft Cloud Holdings Limited reported its unaudited annual consolidated results for 2023, revealing a decrease in revenue by 13.8% but a significant increase in gross profit by 97.9% compared to 2022. The net loss for the company also improved, showing an 18.8% reduction. The company uses non-GAAP financial measures to assess operating performance, which shows a lesser net loss when excluding certain expenses such as share-based compensation and foreign exchange losses.
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