富瑞研究报告指，金山云(03896.HK) (KC.US) 今年首季收入及经调整EBITDA均逊预期，主要因企业云业务受季节性影响，以及客户仍处于编制预算阶段。而公有云业务专注于大客户，整个业务周期和收款过程均需时。该行维持对其“买入”评级，美股目标价由18美元降至16美元。
展望次季，该行料金山云整体收入将按季增17%，当中公有云及企业云收入均按季升17%，毛利率约为14%，经调整EBITDA利润率达19%。至于全年，该行料公司收入将按年升18%，当中公有云收入按年升27%，而企业云则只有轻微升幅；毛利率预测略升至14.6%，经调整EBITDA利润率达20%，相对于市场预期为15%，而该行原先预期为16%。(ss/j)(港股报价延迟最少十五分钟。沽空资料截至 2025-06-05 16:25。) (美股为即时串流报价； OTC市场股票除外，资料延迟最少15分钟。)
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