Kingsoft Cloud reports Q4 EPS (1c), consensus (16c)

Reports Q4 revenue $242.6M, consensus $242.31M. Tao Zou, Chief Executive Officer of Kingsoft Cloud, commented, “In 2023, we continued to uphold the principle of high-quality and sustainable development and have accomplished significant achievements. During the year, we continued to optimize our business mix, and have exhibited remarkable agility in embracing the advent of the AIGC era. We increasingly tapped into the structural and tangible opportunities of AI related cloud computing demands within the Xiaomi and Kingsoft ecosystem, while partnering with well-known independent AI unicorns in long-term strategic cooperation, altogether contributing approximately 8% of revenues from public cloud services in the fourth quarter 2023. In terms of technology, we founded our AI research center, and have launched our Model as a Services (MaaS) mutual trust dedicated zone solutions, which was pioneered in data security features of MaaS solutions. In terms of talents strategy, our Wuhan research center progressing swiftly. By the end of 2023, we have over 500 employees in Wuhan, occupying around 40% of our total research and development staffs. The Beijing-Wuhan dual research center strategy builds solid foundations to our long-term talents development. Looking forward, we will continue to focus on high-quality revenue expansion, improve our profitability and create true value to our customers, shareholders, employees and society.”