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Cheetah Mobile +9.4% after reporting quarterly revenue growth

Nov. 21, 2018 12:38 PM ETCheetah Mobile Inc. (CMCM) StockBy: Jason Aycock, SA News Editor
  • Cheetah Mobile (NYSE:CMCM) is up 9.4% after beating on top and bottom lines in its Q3 earnings, with double-digit revenue growth both sequentially and year-over-year.
  • Gross profit rose 22% to 970.3M yuan (about $141.3M), with gross margin expanding to 71.8% from a year-ago 68%.
  • Attributable net income, meanwhile, rose nearly 20% to 167M yuan ($24.3M).
  • Revenues were up 15.6%, and rose 22.5% from the previous quarter, to 1.352B yuan (about $196.9M).
  • Mobile entertainment revenues rose 37.5% (and 49.6% sequentially) to 497.9M yuan; revenues from utility products and related services rose 4.4% to 835.6M yuan.
  • In operations, global mobile monthly active users was 535M; overseas markets accounted for 68% of those. As for China mobile MAUs, they grew 18% Y/Y and 6% Q/Q, to 171M.
  • Cash from operations was 338.8M (about $49.3M); free cash flow came to 326.3M yuan ($47.5M).
  • For Q4, it's guiding to revenues of 1.39B-1.43B yuan (about $202M-$208M, vs. $206.9M consensus).
  • Earnings call transcript
  • Previously: Cheetah Mobile beats by $0.01, beats on revenue (Nov. 21 2018)
  • Press release

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