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Cheetah Mobile Inc. (NYSE: CMCM), headquartered in China, is a leading internet company renowned for making mobile and PC experiences faster, easier, and safer. The company offers a robust suite of products that includes Clean Master, CM Security, CM Browser, and Battery Doctor, attracting over 395 million monthly active users globally. These tools are designed to enhance device performance, security, and battery efficiency, continuously evolving based on user feedback.
Cheetah Mobile operates in two primary segments: Internet Business and AI and Others. The Internet Business segment focuses on mobile advertising services, which account for the majority of its revenue. The company monetizes its vast user base through advertisements and premium membership services. The AI and Others segment is dedicated to cutting-edge artificial intelligence and overseas advertising agency services, contributing to a significant portion of its revenue from cloud management platforms and AI innovations.
Financially, Cheetah Mobile reported total revenues of RMB 669.5 million (USD 94.3 million) for the full year 2023. Despite a challenging operating environment, the company has maintained a robust cash position of RMB 2,071.1 million as of June 30, 2023. The management team, led by CEO Sheng Fu and CFO Thomas Ren, has emphasized strategic cost management and investment in AI technology to ensure sustainable growth.
Notably, Cheetah Mobile has made significant strides in AI technology, acquiring a controlling stake in Beijing OrionStar Technology Co., Ltd. This acquisition underpins their strategic transition towards AI-powered solutions and service robots, aiming to revolutionize industries with advanced AI and Large Language Models (LLM).
Latest News:
- March 21, 2024: Cheetah Mobile's total revenue for 2023 was RMB 669.5 million, within their guidance. They completed the acquisition of a controlling stake in Beijing OrionStar, advancing their AI technology capabilities.
- April 18, 2024: Cheetah Mobile filed its annual report for 2023 with the SEC, highlighting their commitment to AI innovation and consistent user growth.
- June 7, 2024: The company reported its Q1 2024 results, noting an 11.6% year-over-year revenue increase, driven by the integration of Beijing OrionStar and growth in AI segments.
As Cheetah Mobile continues to navigate the evolving tech landscape, its focus remains on leveraging AI advancements to provide smarter solutions and enhance the global digital experience.
Cheetah Mobile (NYSE: CMCM) reported Q2 2024 financial results, showing 12.3% year-over-year revenue growth to RMB187.4 million (US$25.8 million). The growth was driven by increased delivery of service robots in domestic and international markets. AI and others segment revenue grew 42.8% year-over-year, accounting for 39.3% of total revenue. However, the company reported an operating loss of RMB77.5 million (US$10.7 million) due to investments in AI and increased costs. Despite losses, Cheetah Mobile generated RMB218 million in cash from operating activities. The company remains focused on expanding robotics use cases, advancing product innovation with LLMs, and growing its global presence.
Cheetah Mobile Inc. (NYSE: CMCM), a China-based IT company, has announced it will report its financial results for the second quarter ended June 30, 2024, before the U.S. market opens on Friday, September 13, 2024. The company will hold an earnings conference call at 7:00 AM U.S. Eastern Time on the same day. Cheetah Mobile is known for its AI innovation and offers various internet products and services for PCs and mobile devices. The company provides advertising services globally, value-added services to users, a multi-cloud management platform, and service robots to international clients. Cheetah Mobile is actively engaged in AI research and development, including LLM technologies.
Cheetah Mobile (NYSE: CMCM) reported its unaudited financial results for Q1 2024. Total revenues grew 11.6% YoY to RMB190.3 million (US$26.4 million), driven by a 62.1% rise in the AI and others segment following the acquisition of Beijing OrionStar. Internet business revenue fell 9.4% YoY but rose 1.2% QoQ to RMB109.0 million (US$15.1 million).
Operational expenses increased 23.9% YoY to RMB193.9 million (US$26.9 million), leading to an operating loss of RMB80.6 million (US$11.2 million). R&D costs surged 26.2% YoY to RMB57.3 million (US$7.9 million). Net loss widened to RMB80.0 million (US$11.1 million) from RMB18.6 million YoY. The company has cash equivalents and short-term investments amounting to RMB1,793.2 million (US$248.4 million) as of March 31, 2024.
CEO Sheng Fu highlighted the shift from consumer to enterprise-focused services, leveraging AI and LLM capabilities. CFO Thomas Ren noted the strong integration of Beijing OrionStar and anticipated continued revenue growth and margin improvements.
Cheetah Mobile (NYSE: CMCM), a China-based IT company, announced that it will resume quarterly earnings reporting. The company will release its financial results for Q1 2024 on June 7, 2024, before the U.S. market opens.
Management will hold a conference call at 7:00 AM U.S. Eastern Time on the same day. The earnings release and a live webcast of the call will be available on the company's investor relations website.
Cheetah Mobile specializes in AI innovation and offers various internet products and services, including advertising and multi-cloud management platforms. The company has been listed on the New York Stock Exchange since May 2014.
Cheetah Mobile Inc. (CMCM) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2022 with the Securities and Exchange Commission on April 18, 2023. The report is accessible via the company's investor relations website and the SEC's site. Cheetah Mobile, based in China, offers a range of internet products and services, including advertising services and value-added services such as premium memberships and virtual items. The company aims to leverage artificial intelligence to enhance its offerings and has been listed on the New York Stock Exchange since May 2014.
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