Categories Earnings, Technology

Cheetah Mobile Inc (CMCM): Q4 2019 Earnings Snapshot

— 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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