— Cheetah Mobile (NYSE: CMCM) reported a loss of $0.26 per
share in the fourth quarter of 2019, vs $0.42 per share loss expected.
— Q4 revenue fell 56% to $87.9 million, vs. $191.7 million expected. The decrease was primarily driven by a decline in mobile utility product business as well as a fall in PC-related revenues.
— For Q1 2020, the company expects total revenues between $70 million and $78 million.
— CEO:
The recent outbreak of COVID-19 has increased customer demand for our robotics
products and solutions, while robotics business will not generate significant
revenues in the near term.
— CMCM
shares fell 6.3% immediately following the announcement.