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Why Kingsoft Cloud Stock Crashed Today


Author Bio
Evan is a senior technology specialist at The Motley Fool. He was previously a senior trading specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.
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What happened
Shares of
Kingsoft Cloud (NASDAQ:KC) crashed by as much as 13% this morning after the company reported fourth-quarter earnings. The results were mixed relative to analyst expectations. As of 11:30 a.m. EDT, Kingsoft Cloud shares were down 9%.
So what
Revenue in the fourth quarter was 1.9 billion yuan ($294.7 million), which was shy of the $297.2 million in sales that analysts were modeling for. That resulted in a net loss per share of 0.03 yuan ($0.00), which was slightly better than the consensus estimate of a net loss per share of $0.09. The Chinese technology company, which provides cloud services to enterprise customers, said EBITDA in the ....

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