Kingsoft swings into a $33.1m profit in Q3

All business segments reflected boosted revenues.

Software developer Kingsoft Corporation Ltd. is back on its feet as it recorded an earnings of $33.1m (RMB160.1m) in 3Q16, bouncing back from a $189m (RMB913.4m) loss the year before.

Revenue for the said quarter was up 48% to RMB2.2b. Segments including online game, Cheetah Mobile and cloud services, office software and others businesses represented 35%, 50% and 15%, respectively.

Earnings from online games rose 139% to RMB791.9m, driven by the great contribution from the newly launched JX Online I mobile game and strong and healthy growth of JX Online III.

Meanwhile, Cheetah mobile business revenue rose 12% to RMB1.1b on back off higher demand for advertisers. Its cloud services, office software and other businesses, on the other hand, saw a 77% revenue increase to RMB331.1m.

“Kingsoft performed well in all focused businesses in this quarter. The mobile game segment has started to bring profit contribution to the Company. Kingsoft Cloud developed rapidly in its different vertical sectors. Cheetah Mobile’s content strategy began to bear result," Kingsoft Chairperson Jun Lei said.