Cheetah Mobile (NYSE:CMCM) stock was flying high on Monday following the release of its earnings report for the second quarter of 2018.
Cheetah Mobile notes that its revenue for the second quarter of the year came in at $166.78 million. This is great news for CMCM stock as it surpasses its revenue expectations of $148.70 million to $157.50 million.
Cheetah Mobile’s revenue of $166.78 million for the quarter is also good news for the stock in another way. This is due to it beating out Wall Street’s revenue estimate for the quarter. This estimate was sitting at $155.22 million.
The most recent earnings report for Cheetah Mobile also includes earnings per share of 21 cents. This is an improvement over the Chinese company’s earnings per share of 9 cents from the same period of the year prior. It also comes in well above analysts’ earnings per share estimate of 9 cents for the quarter.
During the second quarter of the year, Cheetah Mobile also reported net income of $29.28 million. The company’s net income from the second quarter of the previous year was $10.69 million.
Operating income reported by Cheetah Mobile for the second quarter of 2018 was $19.33 million. This is better than the company’s operating income of $9.65 million reported during the same time last year.
Cheetah Mobile also provides an outlook for the third quarter of 2018 in its most recent earnings report. It is expecting revenue for the quarter to range from $194.90 million to $204.00 million. Wall Street is looking for revenue of $168.34 million for the quarter.
CMC stock was up 20% as of noon Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.