KINGSOFT's fourth-quarter revenue exceeds expectations
KINGSOFT's revenue in the fourth quarter was 2.79 billion yuan, exceeding the estimated 2.74 billion yuan. The net profit was 460.2 million yuan, with a gross margin of 84%. The expected net profit for 2024 is 1.55 billion yuan, with revenue of 10.32 billion yuan, a year-on-year increase of 21%
KINGSOFT's fourth-quarter revenue was RMB 2.79 billion, estimated at RMB 2.74 billion. Fourth-quarter online gaming and other revenue was RMB 1.29 billion; fourth-quarter net profit was RMB 460.2 million. The fourth-quarter gross margin was 84%, compared to 82% in the same period last year, estimated at 82.7%; fourth-quarter R&D expenditure was RMB 730.4 million, estimated at RMB 824.3 million. The net profit for 2024 is expected to be RMB 1.55 billion, compared to RMB 483.5 million in the same period last year; the revenue for 2024 is expected to be RMB 10.32 billion, a year-on-year increase of 21%, estimated at RMB 10.31 billion.
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