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Kingsoft Cloud (NASDAQ:KC) stock dropped on Wednesday after the company reported third-quarter 2025 results.
The company reported quarterly revenue of 2.35 billion Chinese yuan ($327.9 million), up 24.2% year-on-year (Y/Y) compared to the analyst consensus estimate of $313.6 million.
Revenue rose 19.3% quarter-over-quarter, primarily due to increased revenue from AI-related customers, as AI infrastructure and products continue to be upgraded.
Also Read: Kingsoft Cloud CEO Expresses Conviction In AI-Driven Future Despite Q1 Revenue Shortfall
Revenues from public cloud services increased by 31.7% Y/Y to 1.63 billion Chinese yuan ($226.9 million), mainly led by higher AI demands. The revenue grew by 20.1% Q/Q.
Revenues from enterprise cloud services were 723.9 million Chinese yuan ($101.0 million), representing a 10.1% year-over-year increase. The revenue grew 17.4% Q/Q mainly due to expanding demand for software IT services from its customers and the accelerated completion of project delivery in this quarter.
The adjusted gross profit was 350.6 million Chinese yuan ($48.9 million), up from 327.7 million Chinese yuan in the preceding quarter. The company reported Y/Y growth in profit from 323.4 million Chinese yuan Y/Y.
The quarterly margin declined to 14.9% from 17.1% Y/Y and 16.6% Q/Q primarily due to the higher cost of servers, the expansion of its AI business, and the upfront costs incurred for certain customers for its future revenue activity.
Adjusted operating loss improved to 166.4 million Chinese yuan ($23.2 million) from a loss of 188.5 million Chinese yuan Y/Y.
Kingsoft’s adjusted loss per ADS was 15 cents, beating the consensus estimate of 21 cents.
The company held 5.46 billion Chinese yuan ($762.8 million) in cash and equivalents as of June 30, 2025.
CEO Tao Zou stated that AI remained the primary growth engine, with AI gross billing surging by more than 120% to 728.7 million Chinese yuan, now accounting for 44.8% of public cloud services. He noted that Kingsoft Cloud delivered full-stack AI solutions—from computing resources to applications—while deepening ties with the Xiaomi (OTC:XIACY)–Kingsoft ecosystem, where revenue jumped 69.5% to 628.9 million Chinese yuan.
Kingsoft Cloud stock has gained 30% year-to-date.
Price Action: KC stock is trading lower by 0.88% at $13.50 premarket at last check on Wednesday.
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