BUZZ-Kingsoft Cloud gains on smaller-than-expected Q3 loss

Reuters

2024/11/20

** U.S.-listed shares of Kingsoft Cloud KC.O 3896.HK rise 21% premarket

** The Chinese cloud services group reported a quarterly loss of 0.29 Chinese yuan per share, compared with an LSEG's mean analyst estimate of a loss of 1.06 Chinese yuan per share

** "The accelerated growth of high-quality business, such as AI, has offset the decline in the low-margin CDN business due to strategic proactive adjustments," the company said

** Up to last close, shares were up 21.4% YTD

(Reporting by Joao Manuel Mauricio)

((JoaoManuel.VicenteMauricio@thomsonreuters.com))

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