SYS-CON MEDIA Authors: Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel, Peter Silva

News Feed Item

Cheetah Mobile Announces Second Quarter 2014 Unaudited Financial Results

2Q14 Total Revenues Up 139.3% YoY and 20.5% QoQ to RMB380.3 Million

BEIJING, Aug. 19, 2014 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that provides mission critical applications to help make the internet and mobile experience speedier, simpler, and safer for users worldwide, today announced its unaudited financial results for the second quarter ended June 30, 2014.

Second Quarter 2014 Financial Highlights

  • Total revenues increased by 139.3% year-over-year and 20.5% quarter-over-quarter to RMB380.3 million (US$61.3 million).
  • Mobile revenues increased by 1,103.0% year-over-year and 42.0% quarter-over-quarter to RMB76.2 million (US$12.3 million).
  • Net income increased by 876.8% to RMB13.4 million (US$2.2 million) in the second quarter of 2014 from RMB1.4 million in the prior year period.
  • Non-GAAP net income (which excludes share-based compensation expenses from net income) increased by 301.9% year-over-year and 99.6% quarter-over-quarter to RMB65.4 million (US$10.5 million).

Key Operating Metrics

  • Total mobile user installations globally increased by 32.0% quarter-over-quarter to 662.2 million as of June 30, 2014.
  • Mobile monthly active users ("Mobile MAUs") increased by 255.2% year-over-year and 27.8% quarter-over-quarter to 284.3 million as of June 2014.
  • Mobile MAUs from overseas markets were 67.0% of total mobile MAUs in June 2014, compared with 63.0% in the prior period.
  • Monthly active users of Duba.com Personal Start Page increased by 70.2% year-over year and 24.6% quarter-over-quarter to 67.6 million in June 2014.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are pleased to report strong performance across all of our key business lines in the second quarter. We are also excited to report another quarter of rapid user growth, laying a strong foundation for our future growth. In June 2014, our mobile MAUs grew at an impressive rate of over 255% year-over-year to reach 284.3 million users worldwide, with approximately 67% of those users coming from overseas markets. Additionally, our mobile applications continue to gain popularity worldwide. According to App Annie, five of our mobile applications were ranked among the top 40 most downloaded non-game apps on Google Play worldwide in July 2014. Our Clean Master application continues to be ranked #1 in the Tools category on Google Play. On the development front, we remain focused on creating differentiated mobile applications to drive user growth and engagement. During the quarter, we launched an extremely light and fast mobile browser, CM Browser, which became one of the top 40 most downloaded non-game apps on Google Play in July. Going forward, we will continue to pursue strategic opportunities to expand our mobile business, and to maintain our leading global market position."

Mr. Andy Yeung, Cheetah Mobile's Chief Financial Officer, commented, "Our quarterly revenues continued on a strong trajectory, hitting a record of RMB380 million. In addition to robust mobile user growth, we also made significant progress on the mobile monetization front this quarter, with mobile revenues growing 1,103% year-over-year and 42% quarter-over-quarter to RMB76 million. Mobile revenues has become a material revenue contributor and now accounts for 20% of our total revenues in the second quarter, a dramatic increase from only 4% a year ago. Looking forward, we remain committed to strengthening our mobile monetization effort as it becomes an increasingly important driver of our overall top line growth, as well as continuing to make investments that will lead to increased user growth and expand our product portfolio and service offerings."

Second Quarter 2014 Financial Results

REVENUES

Total revenues for the second quarter of 2014 increased by 139.3% to RMB380.3 million (US$61.3 million) from RMB158.9 million in the prior year period. This increase was primarily due to the increase in revenues from online marketing services and IVAS. Revenues generated from our mobile business increased to RMB76.2 million (US$12.3 million) from RMB6.3 million in the prior year period. This increase was primarily due to the increased acceptance of the Company's mobile marketing services and the growth of its mobile gaming services.

  • Revenues from online marketing services increased by 112.1% to RMB283.4 million (US$45.7 million) in the second quarter of 2014 from RMB133.6 million in the prior year period. This increase was due to growth in marketing revenues from key online marketing customers driven by significant growth in our user traffic on the Company's online marketing platforms, as well as a significant ramp-up of our mobile advertising business.
  • Revenues from internet value added services ("IVAS") significantly increased by 571.3% to RMB84.6 million (US$13.6 million) in the second quarter of 2014 from RMB12.6 million in the prior year period. This increase was primarily driven by the increase in the number of PC and mobile games the Company published and the increase in the number of monthly paying users, as well as the Company's expansion into online lottery services.
  • Revenues from internet security services and others decreased by 3.0% to RMB12.4 million (US$2.0 million) in the second quarter of 2014 from RMB12.8 million in the prior year. This decrease was primarily due to the Company ceasing to promote subscriptions services to paying users in a strategic reorientation which started in 2011, resulting in a decrease in the number of paying customers.

COST OF REVENUES AND GROSS PROFIT

Cost of revenues increased by 177.7% to RMB81.8 million (US$13.2 million) in the second quarter of 2014 from RMB29.4 million in the prior year period. The increase in cost of revenues was mainly driven by higher bandwidth and IDC costs as well as costs associated with the mobile game business.

Gross profit increased by 130.5% to RMB298.5 million (US$48.1 million) in the second quarter of 2014 from RMB129.5 million in the prior year period. Gross margin was 78.5% in the second quarter of 2014 compared with 81.5% in the prior year period.

OPERATING INCOME AND EXPENSES

Total operating expenses for the second quarter of 2014 increased by 141.2% to RMB285.1 million (US$46.0 million) from RMB118.2 million in the prior year period. Total non-GAAP operating expenses, which exclude share-based compensation expenses, for the second quarter of 2014 increased by 125.6% to RMB233.1 million (US$37.6 million) from RMB103.3 million in the prior year period.

  • Research and development expenses increased by 93.8% to RMB103.3 million (US$16.7 million) from RMB53.3 million in the prior year period. This increase was primarily due to the expansion of research and development personnel as well as an increase in share-based compensation expenses. Non-GAAP research and development expenses, which exclude share-based compensation expenses, for the second quarter of 2014 increased by 78.7% to RMB88.6 million (US$14.3 million) from RMB49.6 million in the prior year period.
  • Selling and marketing expenses increased by 312.9% to RMB117.5 million (US$18.9 million) from RMB28.5 million in the prior year period. The increase was primarily due to expenses incurred in further promoting our mobile business. Non-GAAP selling and marketing expenses, which exclude share-based compensation expenses, increased by 307.6% to RMB115.6 million (US$18.6 million) from RMB28.4 million in the prior year period.
  • General and administrative expenses increased by 76.2% to RMB64.2 million (US$10.4 million) from RMB36.4 million in the prior year period. This increase was primarily due to an increase in share-based compensation expenses and professional service fees. Non-GAAP general and administrative expenses, which exclude share-based compensation expenses, increased by 13.9% to RMB28.9 million (US$4.7 million) from RMB25.4 million in the prior year period.

Operating profit increased by 19.2% to RMB13.5 million (US$2.2 million) in the second quarter of 2014 from RMB11.3 million in the prior year period. Operating margin was 3.5% in the second quarter of 2014 compared with 7.1% in the prior year period.

Non-GAAP operating profit[1] increased by 150.0% to RMB65.5 million (US$10.6 million) in the second quarter of 2014 from RMB26.2 million in the prior year period. For the second quarter of 2014, share-based compensation expenses were RMB52.0 million (US$8.4 million) compared with RMB14.9 million in the second quarter of 2013. Non-GAAP operating margin[2] increased to 17.2% in the second quarter of 2014 from 16.5% in the prior year period.

[1] Non-GAAP operating profit is a non-GAAP financial measure, which is defined as operating profit excluding share-based compensation expenses.


[2] Non-GAAP operating margin is a non-GAAP financial measure, which is defined as non-GAAP operating profit as a percentage of total revenues.

NET INCOME

Net income increased by 876.8% to RMB13.4 million (US$2.2 million) in the second quarter of 2014 from RMB1.4 million in the prior year period. Net margin increased to 3.5% in the second quarter of 2014 from 0.9% in the prior year period.

Non-GAAP net income[3] increased by 301.9% to RMB65.4 million (US$10.5 million) from RMB16.3 million in the prior year period. Non-GAAP net margin[4] increased to 17.2% in the second quarter of 2014 from 10.2% in the prior year period.

[3] Non-GAAP net income is a non-GAAP financial measure, which is defined as net income excluding share-based compensation expenses.


[4] Non-GAAP net margin is a non-GAAP financial measure, which is defined as Non-GAAP net income as a percentage of total revenues.

NET INCOME PER ADS

Diluted earnings per ADS in the second quarter of 2014 increased to RMB0.10 (US$0.02) from RMB0.01 in the prior year period.

Non-GAAP diluted earnings per ADS[5] in the second quarter of 2014 increased to RMB0.49 (US$0.08) from RMB0.15 in the prior year period.

[5] Non-GAAP diluted earnings per ADS is a non-GAAP financial measure, which is defined as Non-GAAP net income divided by weighted average number of diluted ADS.

CASH AND TIME DEPOSITS BALANCE

As of June 30, 2014, the Company had cash, cash equivalents, and short-term investments of RMB1.9 billion (US$310.7 million).

SHARES ISSUED AND OUTSTANDING

As of June 30, 2014, the Company had a total of 1,399,170,937 Class A and Class B ordinary shares issued and outstanding. One ADS represents 10 Class A ordinary shares.

SUMMARY OF CERTAIN RECENT DEVELOPMENTS

  • Cheetah Mobile reached a definitive agreement to fully acquire HongKong Zoom Interactive Network Marketing Technology Limited ("HongKong Zoom Interactive") for a total consideration payable of up to US$30 million on June 11th, 2014. The transaction was completed in July 2014.
  • Cheetah Mobile entered into a share purchase agreement with Hong Kong Youloft Technology Limited ("Youloft") and shareholder's of Youloft to acquire an approximately 51.9% equity interest in Youloft for a total consideration payable of up to US$16.6 million on June 13th, 2014. Youloft mainly operates the Wannianli series of mobile applications. The transaction is subject to customary closing conditions.
  • Cheetah Mobile entered into a supplemental agreement with Shenzhen Tencent Computer Systems Company Limited ("Tencent Shenzhen"), a subsidiary of Tencent Holdings Limited ("Tencent"), which increases the annual caps for fees payable by Tencent and its subsidiaries and their respective associates to Cheetah on July 31st, 2014. Under the new supplemental agreement, the annual caps for the two years ending December 31, 2015 have been increased from RMB22 million and RMB33 million to RMB100 million and RMB105 million, respectively.
  • Cheetah Mobile entered into a share purchase agreement with Beijing Starsinhand Technology Company Limited ("Starsinhand"), a subsidiary of Tencent Holdings Limited ("Tencent"), to acquire an additional approximately 22.2% equity interest in Moxiu Technology (Beijing) Co., Ltd. ("Moxiu Technology") for a total consideration of RMB30 million in cash on August 12th, 2014. Upon completion of the transaction under the agreement, Cheetah will become the majority shareholder of Moxiu Technology, holding approximately 50.5% equity interest.

BUSINESS OUTLOOK

For the third quarter of 2014, the Company expects its total estimated revenues to be between RMB430 million (US$69.3 million) and RMB440 million (US$70.9 million), representing a year-over-year growth of approximately 132% to 137%. The forecast reflects the Company's current and preliminary view, which is subject to change.

Conference Call Information

Company will hold a conference call on Tuesday, August 19, 2014 at 8:00 am Eastern Time or 8:00 pm Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers:

United States:

+1-877-870-4263

International Toll Free:

+1-412-317-0790

Mainland China:

4001-201203

Hong Kong:

+800-905945

Conference ID:

#10050701

A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.cmcm.com/.

Exchange Rate

This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars, in this press release, were made at a rate of RMB6.2036 to US$1.00, the noon buying rate in effect on June 30, 2014 in the City of New York for cable transfers in Renminbi per U.S. dollar as certified for customs purposes by the Federal Reserve Bank of New York. Such translations should not be construed as representations that RMB amounts could be converted into U.S. dollars at that rate or any other rate, or to be the amounts that would have been reported under accounting principles generally accepted in the United States of America ("U.S. GAAP").

About Cheetah Mobile Inc.

Cheetah Mobile is a leading mobile internet company with approximately 284.3 million mobile monthly active users in June 2014. Its mission critical applications, including Clean Master, CM Security, Battery Doctor and Duba Anti-virus, help make the internet and mobile experience speedier, simpler, and safer for users worldwide. Cheetah Mobile is the second largest internet security software provider in China by monthly active users as of June 2014, according to iUserTracker of iResearch, and the publisher of Clean Master, the #1 mobile app in the Google Play Tools category worldwide by monthly downloads in June 2014, according to App Annie.

The Company also provides various platform products such as Duba.com, Cheetah browser, game centers, and mobile app stores to provide multiple user traffic entry points and global content distribution channels for its business partners.

Safe Harbor Statements

This press release contains forward-looking statements. These statements, including management quotes and business outlook, constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These forward-looking statements include, but are not limited to, statements about: Cheetah Mobile's growth strategies; Cheetah Mobile's ability to retain and increase its user base and expand its product and service offerings; Cheetah Mobile's ability to monetize its platform; Cheetah Mobile's future business development, financial condition and results of operations; competition from companies in a number of industries including internet companies that provide online marketing services and internet value-added services; expected changes in Cheetah Mobile's revenues and certain cost or expense items; and general economic and business condition globally and in China. Further information regarding these and other risks is included in Cheetah Mobile's filings with the U.S. Securities and Exchange Commission. Cheetah Mobile does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Use of Non-GAAP Financial Measures

To supplement Cheetah Mobile's consolidated financial information presented in accordance with U.S. GAAP, Cheetah Mobile uses adjusted operating profit, adjusted operating margin, adjusted net income, adjusted net margin and adjusted diluted earnings per ADS, which are non-GAAP financial measures.

Adjusted operating profit and adjusted operating margin reflects operating profit excluding share-based compensation costs. Adjusted net income is net income excluding share-based compensation costs. Adjusted net margin is adjusted net income as a percentage of total revenues. Adjusted diluted earnings per ADS is adjusted net income or loss attributable to ordinary shareholders divided by weighted average number of diluted ADS.

The Company believes that separate analysis and exclusion of the non-cash impact of share-based compensation costs adds clarity to the constituent parts of its performance from the cash perspective. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measure for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measure is useful supplemental information for investors and analysts to assess its operating performance without the effect of non-cash share-based compensation costs, which have been and will continue to be significant recurring expenses in its business. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company's net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Cheetah Mobile Inc. Reconciliations of GAAP and Non-GAAP Results" at the end of this release.

 

Cheetah Mobile Inc.




Condensed Consolidated Balance Sheet




(in '000, except for per share data)





As of


 December 31, 2013 

 June 30, 2014 

June 30, 2014


RMB

 RMB 

US$


 (Audited) 

 (Unaudited)

 (Unaudited) 

ASSETS




Current assets:




Cash and cash equivalents

530,536

929,927

149,902

Short-term investments

55,780

997,647

160,817

Accounts receivable

100,428

136,648

22,027

Prepayments and other current assets

63,037

86,092

13,878

Due from related parities

12,868

27,162

4,378

Deferred tax assets

1,913

1,147

185

Total current assets

764,562

2,178,623

351,187





Non-current assets:




Property and equipment , net

31,326

36,440

5,874

Intangible assets, net 

32,850

113,829

18,349

Goodwill

52,819

77,452

12,485

Long-term investments

12,054

105,831

17,060

Deferred tax assets

7,178

8,122

1,309

Other non-current assets

8,804

9,091

1,465

Total non-current assets

145,031

350,765

56,542





Total assets

909,593

2,529,388

407,729





LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY







Accounts payable

23,439

89,569

14,438

Accrued expenses and other current liabilities

181,551

238,846

38,501

Redemption right liabilities

5,711

1,084

175

Deferred revenue

7,840

25,649

4,135

Due to related parties

31,893

25,697

4,142

Income tax payable

13,534

905

146

Deferred tax liability

-

1,450

234

Total current liabilities

263,968

383,200

61,771





Non-current liabilities: 




Deferred revenue

2,866

1,684

271

Deferred tax liability

39,206

46,964

7,570

Other non-current liabilities

9,485

6,602

1,065

Total non-current liabilities

51,557

55,250

8,906





Total liabilities

315,525

438,450

70,677





Commitments and contingencies








Mezzanine equity:




Series A convertible preferred shares

119,976

-

-

Series B convertible preferred shares

321,965

-

-

Total mezzanine equity

441,941

-

-





Shareholders' equity:




Ordinary shares

150

212

34

Additional paid-in capital

63,919

1,982,253

319,533

Retained earnings

74,819

106,929

17,237

Accumulated other comprehensive income

13,239

1,544

248

Total shareholders' equity

152,127

2,090,938

337,052





Total liabilities, mezzanine equity and shareholders' equity

909,593

2,529,388

407,729

 

Cheetah Mobile Inc.

Condensed Consolidated Statements of Comprehensive Income

(in '000, except for per share data and number of shares and ADSs)


For The Three Months Ended


June 30, 2013

March 31, 2014

June 30, 2014

 June 30, 2014 


RMB

RMB

RMB

 US$ 


 (Unaudited) 

 (Unaudited) 

 (Unaudited) 

 (Unaudited)

Revenues

158,931

315,712

380,301

61,303

Online marketing services

133,568

232,192

283,356

45,676

Internet value-added services

12,596

71,810

84,562

13,631

Internet security services and others

12,767

11,710

12,383

1,996






Cost of revenues (a)

(29,442)

(70,417)

(81,772)

(13,181)

Gross profit

129,489

245,295

298,529

48,122






Operating expenses: 





Research and development (a)

(53,313)

(77,760)

(103,336)

(16,657)

Selling and marketing (a)

(28,463)

(111,636)

(117,533)

(18,946)

General and administrative (a)

(36,431)

(36,649)

(64,208)

(10,350)

Total operating expenses

(118,207)

(226,045)

(285,077)

(45,953)






Operating profit 

11,282

19,250

13,452

2,169

Other income (expenses):





Interest income

1,213

1,980

5,313

856

Changes in fair value of redemption right granted to a non-
controlling shareholder

-

3,488

89

14

Changes in fair value of contingent consideration

(139)

(437)

(525)

(85)

Changes in fair value of put options granted to employees

-

332

140

23

Foreign exchange gain (loss), net

1,198

(40)

148

24

Other income, net

22

269

300

49

Gains (losses) from equity method investments

(1,340)

(1,547)

(1,306)

(211)






Income before tax

12,236

23,295

17,611

2,839

Income tax benefit (expense)

(10,863)

(4,596)

(4,200)

(677)

Net income

1,373

18,699

13,411

2,162






Earnings per share





Basic 

0.00

0.02

0.01

0.00

Diluted 

0.00

0.02

0.01

0.00






Earnings per ADS





Basic 

0.01

0.16

0.11

0.02

Diluted 

0.01

0.16

0.10

0.02






Weighted average number of shares outstanding





Basic 

924,401,647

944,224,593

1,184,715,115

1,184,715,115

Diluted 

1,073,287,645

1,208,937,986

1,329,554,370

1,329,554,370

Weighted average number of ADSs used in computation





Basic 

92,440,165

94,422,459

118,471,512

118,471,512

Diluted 

107,328,765

120,893,799

132,955,437

132,955,437











Other comprehensive income (loss), net of tax





Foreign currency translation adjustments

(1,061)

3,513

(943)

(152)

Unrealized gains on available-for-sale securities, net

-

969

(15,235)

(2,456)

Other comprehensive income (loss)

(1,061)

4,482

(16,178)

(2,608)

Comprehensive income

312

23,181

(2,767)

(446)






(a) Share-based compensation expenses










 In ('000)

For The Three Months Ended


June 30, 2013

 March 31, 2014 

June 30, 2014

 June 30, 2014 


RMB

 RMB

RMB

 US$ 


 (Unaudited) 

 (Unaudited) 

 (Unaudited) 

 (Unaudited)

Cost of revenues

3

-2

3

1

Research and development

3,722

6,029

14,740

2,376

Selling and marketing

108

817

1,959

316

General and administrative

11,076

7,237

35,325

5,694

Total

14,909

14,081

52,027

8,387

 

Cheetah Mobile Inc.










Reconciliation of GAAP to Non-GAAP Results








(in '000 of RMB unless otherwise indicated, except for per share data)


































For The Three Months Ended June 30, 2014




% of Net


Share-based 


% of Net


Non-GAAP


% of Net


GAAP Result


Revenues


Compensation


Revenues


Result


Revenues

Revenues

380,301




-




380,301



Cost of revenues

(81,772)


22%


3


0%


(81,769)


22%

Gross profit

298,529


78%


3


0%


298,532


78%













Research and development 

(103,336)


27%


14,740


4%


(88,596)


23%

Selling and marketing 

(117,533)


31%


1,959


1%


(115,574)


30%

General and administrative 

(64,208)


17%


35,325


9%


(28,883)


8%

Total operating expenses

(285,077)


75%


52,024


14%


(233,053)


61%













Income from operations

13,452


4%


52,027


13%


65,479


17%

Net income

13,411


4%


52,027


13%


65,438


17%













Diluted earnings per ordinary share (RMB)  

0.01




0.04




0.05



Diluted earnings per ADS (RMB)

0.10




0.39




0.49



Diluted earnings per ADS (USD)

0.02




0.06




0.08
















For The Three Months Ended March 31, 2014




% of Net


Share-based 


% of Net


Non-GAAP


% of Net


GAAP Result


Revenues


Compensation


Revenues


Result


Revenues

Revenues

315,712




-




315,712



Cost of revenues

(70,417)


22%


(2)


0%


(70,419)


22%

Gross profit

245,295


78%


(2)


0%


245,293


78%













Research and development 

(77,760)


25%


6,029


2%


(71,731)


23%

Selling and marketing 

(111,636)


35%


817


0%


(110,819)


35%

General and administrative 

(36,649)


11%


7,237


2%


(29,412)


9%

Total operating expenses

(226,045)


71%


14,083


4%


(211,962)


67%













Income from operations

19,250


7%


14,081


4%


33,331


11%

Net income 

18,699


6%


14,081


4%


32,780


10%













Diluted earnings per ordinary share (RMB)

0.02




0.01




0.03



Diluted earnings per ADS (RMB)

0.16




0.12




0.28



Diluted earnings per ADS (USD)

0.02




0.02




0.04
















For The Three Months Ended June 30, 2013




% of Net


Share-based 


% of Net


Non-GAAP


% of Net


GAAP Result


Revenues


Compensation


Revenues


Result


Revenues

Revenues

158,931




-




158,931



Cost of revenues (a)

(29,442)


19%


3


0%


(29,439)


19%

Gross profit

129,489


81%


3


0%


129,492


81%













Research and development 

(53,313)


33%


3,722


2%


(49,591)


31%

Selling and marketing 

(28,463)


18%


108


0%


(28,355)


18%

General and administrative 

(36,431)


23%


11,076


7%


(25,355)


16%

Total operating expenses

(118,207)


74%


14,906


9%


(103,301)


65%













Income from operations

11,282


7%


14,909


9%


26,191


16%

Net income 

1,373


1%


14,909


9%


16,282


10%













Diluted earnings per ordinary share (RMB)

0.00




0.01




0.01



Diluted earnings per ADS (RMB)

0.01




0.14




0.15



Diluted earnings per ADS (USD)

0.00




0.02




0.02



 

Cheetah Mobile Inc.




Revenues Generated from PC-based and Mobile-based Applications and Services

(Unaudited, in '000, except for per share data)








For The Three Months Ended


June 30, 2013

 March 31, 2014 

June 30, 2014

June 30, 2014


 RMB

 RMB

 RMB

USD


 (Unaudited) 

 (Unaudited) 

 (Unaudited) 

 (Unaudited) 

PC

152,594

262,009

304,065

49,014

Mobile

6,337

53,703

76,236

12,289

Total

158,931

315,712

380,301

61,303

SOURCE Cheetah Mobile Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...
Mobile commerce traffic is surpassing desktop, yet less than 20% of sales in the U.S. are mobile commerce sales. In his session at 15th Cloud Expo, Dan Franklin, Segment Manager, Commerce, at Verizon Digital Media Services, defined mobile devices and discussed how next generation means simplification. It means taking your digital content and turning it into instantly gratifying experiences.
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's

"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...