Core Insights - Kingsoft Cloud reported strong Q3 results with accelerated revenue growth and achieved quarterly profitability for the first time, driven by its AI strategy [1][3] Financial Performance - Total revenue reached RMB 2.478 billion, a year-on-year increase of 31.4% and a quarter-on-quarter increase of 5.5% [3] - Adjusted net profit was RMB 28.7 million, compared to a loss of RMB 237 million in the same period last year [3][9] - Adjusted EBITDA surged by 345.9% year-on-year to RMB 827 million, with a profit margin of 33.4%, an increase of 23.6 percentage points year-on-year [3] - Gross margin slightly decreased to 15.4%, down 0.7 percentage points due to rising server costs [3][8] Core Business Progress - Public cloud service revenue was RMB 1.752 billion, a significant increase of 49.1% year-on-year, becoming the main growth driver [3][5] - AI business billing revenue reached RMB 782 million, a year-on-year growth of approximately 120%, accounting for 44.6% of public cloud revenue [5] - Revenue from the Xiaomi-Kingsoft ecosystem was RMB 691 million, a remarkable increase of 83.8% year-on-year, contributing 27.9% to total revenue [6] - Industry cloud service revenue was RMB 726 million, showing minimal growth of 2.2% year-on-year [7] Cost and Investment - Depreciation and amortization costs doubled to RMB 650 million, reflecting significant investments in AI computing power [12] - Operating expenses dropped by 63.6% year-on-year to RMB 526 million, largely due to last year's impairment provisions [11] - Cash and cash equivalents decreased to RMB 3.955 billion, down RMB 1.515 billion from the previous quarter [3][12] - The company adopted a strategy of balancing self-purchase and leasing of computing power equipment, with total borrowings increasing by 65% year-on-year to RMB 6.19 billion [12]
首次实现单季盈利！金山云Q3经调整净利2870万元，AI账单业务收入同比增长120% | 财报见闻