US Stock Market Move | Revenue growth in the third quarter returned to double digits year-on-year, with Kingsoft Cloud (KC.US) rising nearly 7%.

On Tuesday, the stock price of KINGSOFT CLOUD (KC.US) surged significantly, rising by 6.91% to $4.64. In terms of news, KINGSOFT CLOUD achieved revenue of 1.89 billion yuan in 2024 Q3, with a rapid double-digit growth rate of 16.0% year-on-year; public cloud revenue was 1.18 billion yuan, an increase of 15.6% year-on-year; industry cloud revenue was 0.71 billion yuan, an increase of 16.7% year-on-year; adjusted EBITDA reached 0.19 billion yuan, with an adjusted EBITDA margin of 9.8%, continuing to improve steadily on the basis of turning positive in the previous two quarters, with a significant year-on-year increase of 12.6 percentage points; solid progress has been made in terms of revenue scale, profitability, and operational cash flow, proving continued operational efficiency.