Cheetah Mobile Q1 Net Loss Narrows

(RTTNews) - Cheetah Mobile Inc. (CMCM), a Chinese mobile internet company, on Thursday announced a narrower net loss for the first quarter compared with the previous year.

For the quarter, net loss attributable to the shareholders narrowed to RMB 33.36 million, or $4.60 million, from loss of RMB 80.04 million in the previous year.

Adjusted net loss narrowed to RMB 21.1 million, or $2.9 million, from RMB 65.8 million in the prior year.

Loss per share ADS was RMB 1.1814, or $0.1650, versus loss RMB 2.7500 last year.

Loss before income tax was RMB 23.29 million, or $3.21 million, from loss of RMB 76.13 million in the prior year.

Adjusted EBITDA also narrowed to RMB 11.17 million, or $1.54 million, from RMB 60.68 million in the prior year.

Operating loss narrowed to RMB 26.54 million, or $3.66 million, from loss of RMB 80.57 million in the previous year.

Revenue increased 9.2% to RMB 259.01 million, or $35.69 million, from RMB 190.29 million last year.

In the pre-market trading, Cheetah Mobile is 2.68% higher at $4.22 on the New York Stock Exchange.