Cheetah Mobile recently published its financial report for the first quarter of 2020, stating that the company's total revenue was CNY528 million and its non-GAAP net profit was CNY380 million.
Meanwhile, Cheetah Mobile's AI business revenue reached CNY31.76 million, an increase of 12% compared with the previous quarter.
In the last year, Facebook and Google gradually terminated their cooperation with Cheetah Mobile, which led to its overseas tool business decline. During the first quarter of 2020, the company's tool business revenue was CNY211 million, a decrease of 9.4% compared with the previous quarter; while its mobile game business revenue was CNY285 million, which was at the same level as last quarter. Its tool and mobile game business non-GAAP operating revenue reached CNY7.8 million.
In addition, though affected by COVID-19, Cheetah Mobile's AI business achieved an increase of 12% over the previous quarter. The growth was mainly attributed to the company's breakthrough in two major scenarios – medical treatment and new retail.
By March 31, 2020, Cheetah Mobile's cash and cash equivalents, restricted funds and short-term investments were CNY2.344 billion, which were about USD331 million; and its long-term investments were CNY2.556 billion, which were about USD361 million.