Kingsoft Cloud Q3 Earnings: Revenue Surges 16%, AI Growth Fuels Profits, CEO Shares Optimistic Outlook

BenzingaNov 19 13:28 ET

Hang Seng Index fell 0.13% in the morning session, with obvious structural market trends.

Boyaa Interactive (00434) rose by more than 10%, bitcoin price surpassed $0.095 million, company's holding positions floating profit has exceeded $0.1 billion.

Zhitong Finance23:00 ET

Bocom Intl: Maintains a 'buy' rating on Kingsoft, with the target price raised to 33 Hong Kong dollars.

Bocom Intl released a research report stating that based on the profit expansion of Kingsoft's (03888) gaming business and the valuation increase of Kingsoft Cloud (03896), the target price for Kingsoft has been raised by 10% from HKD 30 to HKD 33, maintaining a "buy" rating. The bank expects Kingsoft's gaming revenue for the full year of 2024 to increase by 30% year-on-year, while operation in the fourth quarter may weaken quarter-on-quarter. There are five new games planned for 2025, three of which have already obtained approval numbers, and it is expected that the new games will offset the high base effect of old games. WPS may increase its overseas promotional efforts in 2025. The report indicated that Kingsoft's third-quarter performance exceeded expectations, with total revenue increasing year-on-year.

Sina Hong Kong stocks21:50 ET

[Brokerage Focus] Open Source Securities maintains a 'buy' rating for Kingsoft (03888), pointing out that Kingsoft Cloud is expected to benefit from the Xiaomi ecosystem and AI-driven initiatives, which may enhance its valuation.

Kingsoft Financial News | According to research from Open Source Securities, the office software business of Kingsoft (03888) experienced a year-on-year revenue growth of 12.5% in Q3 2024, with the monthly active users of major products increasing by 4.9% year-on-year and accelerating quarter-on-quarter. The revenue from personal subscription services grew by 17.2% year-on-year, and WPS AI 2.0 provided a more convenient creative experience, enhancing paid stickiness and conversion rates. The revenue from institutional subscriptions remained flat year-on-year and increased by 23.8% quarter-on-quarter. The institution estimated that the impact of the shift in subscription model (from annual billing to monthly billing) has significantly diminished, while the company actively expands into state-owned and private enterprise markets, with contracts.

Golden Guard Financial News21:42 ET

Zhizhong Hong Kong stocks early knowledge | Ministry of Industry and Information Technology: Guide photovoltaic companies to reduce purely capacity expansion photovoltaic manufacturing projects. nvidia (NVDA.US) fell by as much as 5% after earnings.

On November 20, the Ministry of Industry and Information Technology issued a notice revising the "Specification Conditions for the Photovoltaic Manufacturing Industry" and the "Interim Measures for the Management of Announcements for the Photovoltaic Manufacturing Industry".

Zhitong Finance18:43 ET

12 Information Technology Stocks Moving In Wednesday's Pre-Market Session

Benzinga16:10 ET