— 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.
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The coronavirus pandemic continues to plague the world with over 500,000 cases reported globally and over 82,000 cases in the US alone. As the world grapples with the outbreak, several