Cheetah Mobile Announces Third Quarter 2024 Unaudited Consolidated Financial Results

Cheetah Mobile Inc. NYSE CMCM Cheetah Mobile or the Company, a China-based IT company, today announced its unaudited consolidated financial results for the third quarter ended September 30, 2024 .

Management Commentary

Mr. Sheng Fu , Cheetah Mobiles Chairman and Chief Executive Officer, remarked, Our third-quarter results demonstrate strong momentum, with accelerated revenue growth fueled by robust performance in our service robotics and internet businesses. Were seeing rising demand for service robots as a supplement to human labor, particularly in hospitality, manufacturing, and logistics sectors. Drawing on our extensive experience delivering service robots worldwide, we continue to innovate by refining product experiences and introducing targeted solutions to address specific industry needs. Looking ahead, the integration of large language models represents a pivotal opportunity to enhance our robots intelligence and deployment efficiency, unlocking new avenues for growth. With a clear strategy and a focus on innovation, were well-positioned to capitalize on the immense potential of the trillion-dollar robotics market.

Mr. T homas Ren, Chief Financial Officer of Cheetah Mobile, commented In the third quarter, we continued to make meaningful progress in reducing our operating losses. This marks the second consecutive quarter of sequential improvement, driven by ongoing efforts to enhance operational efficiency. Notably, the operating margin for our internet business, excluding share-based compensation, improved to 10.3-an increase of 4 percentage points compared to 6.2 in the same period last year