China's leading mobile internet company Cheetah Mobile Inc. on Monday released its unaudited financial results for the fourth quarter and the fiscal year 2017, revealing a positive performance during the period.
As for the fourth quarter, its total revenues increased by 8.9 percent on a year-over-year basis to RMB1,387.8 million (US$213.3 million), exceeding its previous expectations of RMB1,250 million to RMB 1,310 million, which was mainly driven by its record-high fourth-quarter mobile revenues by a growth of 17.8 percent over the previous year.
Its fourth-quarter operating profit stood at RMB222 million (US$34.1 million), which was RMB62.2 million for the same period last year.
The net income attributable to its shareholders jumped to RMB1,047.1 million (US$160.9 million) from RMB58.8 million in the same period last year, an increase of 1,680.8 percent.
The company generated RMB267.5 million (US$41.1 million) of net cash from operating activities and RMB258.9 million (US$39.8 million) of free cash flow in the fourth quarter.
As for the fiscal year, its total revenues increased by 9 percent year-over-year to RMB4,974.8 million (US$764.6 million), primarily driven by a rapid growth in its Live.me and mobile game businesses.
The company earned an operating profit of RMB446.9 million (US$68.7 million) from an operating loss of RMB12.4 million in 2016.
The net income attributable to Cheetah Mobile shareholders jumped to RMB1,348.2 million (US$207.2 million) from a net loss attributable to its shareholders of RMB80.5 million in 2016.
Its net cash generated by operating activities reached RMB621.1 million (US$95.5 million) in 2017.
"Our utility products and related services continued to expand its profitability and generate cash flow. Revenues from our Live.me and mobile game business continued to grow, thanks to our efforts in product innovations, creative operations, and content enrichment," said Sheng Fu, CEO and chairman of Cheetah Mobile
According to Sheng, Live.me ranked first in grossing social apps in the U.S. on Google Play and were one of the top six in the Apple App Store. CM Launcher and Cheetah Keyboard were among the top 10 personalized apps in the U.S. on Google Play.
"Recently, we became one of the top 10 game publishers in the U.S. on both Google Play and the Apple App Store. Going forward, we will continue to use artificial intelligence to enhance our products and services. We also believe that technologies such as blockchain will create opportunities for us to expand our product offerings," added Sheng.
The company has expected to gain between RMB1,100 million (US$169 million) and RMB1,140 million (US$175 million) in its total revenues for the first quarter of 2018.
Formed in November 2010 as a merger between Kingsoft Security and Conew Image, the company has attracted some 600 million global monthly active users in over 200 countries and regions, of which approximately 77 percent are located in Europe and the United States.
As for the fourth quarter, its total revenues increased by 8.9 percent on a year-over-year basis to RMB1,387.8 million (US$213.3 million), exceeding its previous expectations of RMB1,250 million to RMB 1,310 million, which was mainly driven by its record-high fourth-quarter mobile revenues by a growth of 17.8 percent over the previous year.
Its fourth-quarter operating profit stood at RMB222 million (US$34.1 million), which was RMB62.2 million for the same period last year.
The net income attributable to its shareholders jumped to RMB1,047.1 million (US$160.9 million) from RMB58.8 million in the same period last year, an increase of 1,680.8 percent.
The company generated RMB267.5 million (US$41.1 million) of net cash from operating activities and RMB258.9 million (US$39.8 million) of free cash flow in the fourth quarter.
As for the fiscal year, its total revenues increased by 9 percent year-over-year to RMB4,974.8 million (US$764.6 million), primarily driven by a rapid growth in its Live.me and mobile game businesses.
The company earned an operating profit of RMB446.9 million (US$68.7 million) from an operating loss of RMB12.4 million in 2016.
The net income attributable to Cheetah Mobile shareholders jumped to RMB1,348.2 million (US$207.2 million) from a net loss attributable to its shareholders of RMB80.5 million in 2016.
Its net cash generated by operating activities reached RMB621.1 million (US$95.5 million) in 2017.
"Our utility products and related services continued to expand its profitability and generate cash flow. Revenues from our Live.me and mobile game business continued to grow, thanks to our efforts in product innovations, creative operations, and content enrichment," said Sheng Fu, CEO and chairman of Cheetah Mobile
According to Sheng, Live.me ranked first in grossing social apps in the U.S. on Google Play and were one of the top six in the Apple App Store. CM Launcher and Cheetah Keyboard were among the top 10 personalized apps in the U.S. on Google Play.
"Recently, we became one of the top 10 game publishers in the U.S. on both Google Play and the Apple App Store. Going forward, we will continue to use artificial intelligence to enhance our products and services. We also believe that technologies such as blockchain will create opportunities for us to expand our product offerings," added Sheng.
The company has expected to gain between RMB1,100 million (US$169 million) and RMB1,140 million (US$175 million) in its total revenues for the first quarter of 2018.
Formed in November 2010 as a merger between Kingsoft Security and Conew Image, the company has attracted some 600 million global monthly active users in over 200 countries and regions, of which approximately 77 percent are located in Europe and the United States.
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