|Over a month ago|
Fly Intel: Pre-market Movers » 09:0306/1006/10/20
GMAB, FULC, TRUE, DUO, LAKE, UNFI, RRGB, CMCM, GME, SBUX, SALT, CSII
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Cheetah Mobile sees Q2 revenue $48M-$55M 06:1906/1006/10/20
Cheetah Mobile reports non-GAAP Q1 EPS (RMB0.71) vs. RMB0.71 a year ago » 06:1806/1006/10/20
Reports Q1 revenue…
Reports Q1 revenue RMB528.1M, down 51.4% vs. RMB1.09B a year ago. Excluding the impact resulting from the deconsolidation of LiveMe's revenues, total revenues decreased by 36.4% year over year in Q1. CEO Sheng Fu stated, "In Q1, we continued to streamline our operations in the mobile Internet business and implement strict cost and expense controls to reduce our losses from the previous quarter. Total cost and expenses decreased by 38.4% year over year and 20.2% sequentially in the quarter. Gross margin grew to 72.0% in the quarter from 66.2% in the same period last year and from 70.2% in the previous quarter. (...) Notably, non-GAAP operating profit for our mobile Internet business, namely our utility products and related services and our mobile games businesses, increased to RMB7.8 million in the quarter from a non-GAAP operating loss of RMB91.7 million in the previous quarter. In addition, we continued to execute our AI strategy to rejuvenate our long-term growth. The recent outbreak of COVID-19 has led to increased number of use cases for our robotics products and solutions in hospitals and public transit while increasing customer awareness for the service at the same time. However, we do not expect our robotics business to generate significant revenues in the near term."
Cheetah Mobile sells equity ownership in Bytedance » 08:3805/2005/20/20
Cheetah Mobile has…
Cheetah Mobile has entered into an agreement to sell all its remaining equity ownership in Bytedance on May 20. This transaction is expected to result in a disposal gain of investment of approximately $66M in Q2. This transaction will also result in a cash inflow of approximately $130M. As of December 31, 2019, the company had cash and cash equivalents, restricted cash, and short-term investments of $338.2M. This transaction is expected to close by the end of June, subject to customary closing conditions.
Cheetah Mobile approves special dividend of 14c per share » 08:3705/2005/20/20
Cheetah Mobile approved a…
Cheetah Mobile approved a special cash dividend of $1.44 per ADS, or 14c per ordinary share. The cash dividend will be paid on July 9 to shareholders of record at the close of business on June 23. The aggregate amount of cash dividends to be paid is approximately $200M, which will be funded by cash on the company's balance sheet.
|Over a quarter ago|
Fly Intel: Wall Street's top stories at midday » 12:2203/2403/24/20
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Fly Intel: Pre-market Movers » 09:0903/2403/24/20
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Cheetah Mobile reports Q4 adjusted EPS (26c), one estimate (42c) » 07:4703/2403/24/20
Reports Q4 revenue…
Reports Q4 revenue $87.9M, may not compare to one estimate $191.68M. Sheng Fu, Cheetah Mobile's Chairman and CEO, stated, "We are currently facing some difficulties in our legacy mobile internet business. However, these challenges are not causing any damage to our company at the systemic level. Over the past years, we have built an unyielding and relentless team while amassing a strong balance sheet. Importantly, the recent outbreak of COVID-19 has increased customer demand for our robotics products and solutions, while robotics business will not generate significant revenues in the near term. Going forward, we are confident in our ability to rejuvenate growth in our business by capturing those opportunities emerging in the field of artificial intelligence." Thomas Ren, Cheetah Mobile's CFO, commented, "Despite facing difficulties in growing our revenues, we continued to implement strict cost and expense controls while simultaneously restructuring some of our business units. In the fourth quarter of 2019, total non-GAAP costs and expenses decreased by 36% year over year while the operating profit of our utility products and related services business grew to RMB29 million from RMB24 million in the third quarter of 2019. Looking into 2020, we will continue to implement prudent cost-saving measures. In addition, we believe that our strong balance sheet will enable us to weather through these difficulties."
Fly Intel: Wall Street's top stories for Friday » 16:1102/2102/21/20
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The S&P 500 ended…
Fly Intel: Wall Street's top stories at midday » 12:0002/2102/21/20
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Stocks have been under…