Cheetah Mobile Inc (ADR) (NYSE:CMCM) stock was down on Monday following the release of its earnings report for the first quarter of the year.
Cheetah Mobile Inc reported earnings per share of 8 cents during the first quarter of 2018. This is down from its earnings per share of 13 cents reported in the same period of the year prior. Despite the fall, CMCM’s earnings per share for the quarter was able to match Wall Street’s estimate.
During the first quarter of the year, Cheetah Mobile Inc reported net income of $11.84 million. The app company reported net income of $14.19 million during the first quarter of the previous year.
Operating profit reported by Cheetah Mobile Inc for the first quarter of 2018 came in at $21.74 million. This is an improvement over the $4.12 million that was reported by the company for the same time last year.
Cheetah Mobile Inc’s revenue for the first quarter of the year was sitting at $182.56 million. This is a drop from the company’s revenue of $186.53 million that was reported in the first quarter of 2017. However, it did still come in above analysts’ revenue estimate of $180.34 million for the period.
Cheetah Mobile Inc also laid out its outlook for the second quarter of 2018 in its most recent earnings report. The company says that it is expecting revenue for the period to range from $163 million to $172 million. Wall Street is looking for CMCM to report revenue of $193.30 million for the second quarter of the year.
CMCM stock started off down on Monday morning, but is up slightly just before noon.
As of this writing, William White did not hold a position in any of the aforementioned securities.