Kingsoft Cloud recently published its financial report for the first quarter of 2020, stating that the company realized operating revenue of CNY1.391 billion, a year-on-year increase of 64.5%; and it made net losses of CNY331.6 million.
The report also revealed that Kingsoft Cloud's operating cost in the first quarter of 2020 was CNY1.32 billion, a year-on-year increase of 48.2%. The company's research and development expense was CNY195.7 million, a year-on-year increase of 57.3%; and its sales and marketing expense was CNY88 million, a year-on-year increase of 66.7%.
By March 31, 2020, Kingsoft Cloud's cash, cash equivalents and short-term investments reached CNY2.198 billion, which was about USD310.5 million.
Kingsoft Cloud predicted that its total operating revenue will be between CNY1.5 billion and CNY1.54 billion in the second quarter of 2020, representing a year-on-year increase of 60% to 65%.
