Cheetah Mobile Announces First Quarter 2020 Unaudited Consolidated Financial Results
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Cheetah Mobile (CMCM) Reports Q1 Loss of $0.10 on Revenues of $74.58M; Offers 2Q Revenue Outlook
June 10, 2020 5:50 AM EDTCheetah Mobile (NYSE: CMCM) reported Q1 EPS of ($0.10). Revenue for the quarter came in at $74.58 million.
Mr. Sheng Fu, Cheetah Mobile's Chairman and Chief Executive Officer, stated, "In the first quarter of 2020, 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.... More
