Kingsoft Cloud (KC) stock jumps 10.6% after Q2 results beat forecasts, driven by 82% growth in AI cloud billings
Kingsoft Cloud reported a break-even quarter with sales of approximately $452.8 million, significantly outperforming analysts' target of a $0.12 per-share loss. The company's revenue climbed 31% year over year, with its artificial intelligence (AI) cloud business gross billings increasing roughly 82% compared to the prior-year period. Non-GAAP gross margin improved to 15.4% from 14.9%.
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