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Kingsoft Announces 2015 First Quarter Results, Strong Growth Momentum Continued in Mobile, Cloud Services

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Kingsoft Corporation, a leading Chinese software and Internet service company, has announced its unaudited quarterly results for the 3months ended 31 March 2015.

During the period under review, the revenue of Kingsoft increased by 4% quarter-over-quarter and 64% year-over-year to RMB1,109.4 million. Revenue from the online game, Cheetah Mobile, and office software and others businesses represented 29%, 58% and 13%, respectively, of the total revenue. Gross profit increased by 5% quarter-over-quarter and 56% year-over-year to RMB885.6 million. Profit attributable to owners of the parent decreased 34% quarter-over-quarter and 53% year-over-year to RMB114.5 million, the press release states.

Jun Lei, Chairman of Kingsoft, commented, “The achievements of our business lines in the first quarter demonstrated a good start of the effective execution of our mobile transformation, globalization and ‘All in Cloud’ strategies in 2015. Our total mobile MAU reached a new record of 535.7 million with over 66% from the overseas markets in March 2015. In the first quarter of 2015, 55% of Cheetah Mobile’s revenue was generated from the mobile services. The daily average upload data onto our storage services soared to approximately 296 terabyte in March 2015, compared to 122 terabyte a year ago. As the user traffic are migrating fast to mobile internet worldwide and cloud services has become mainstream and experienced explosive growth in China, I believe that Kingsoft will manifest successful mobile transformation and establish new milestones in cloud services in 2015.”

Hong Jiang Zhang, Chief Executive Officer of Kingsoft, said,We are pleased to have delivered another quarter of solid revenue growth. We believe our proactive investments in mobile transformation, globalization and cloud businesses are necessary to trade off short term profits to capture the vast growth opportunities in the long term, even though it would further adversely impact our profitability in the coming quarters. We are glad with our progress thus far, particularly the outstanding performance of the Cheetah Mobile and Kingsoft Cloud businesses.”

For more information about results, click here.

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