Net profit surges like a Cheetah to 64.1%
Print Edition
NEW York-listed Cheetah Mobile’s net profit soared 64.1 percent year on year in the first quarter as its mobile and overseas revenue surged, the Internet security firm said yesterday.
Cheetah’s net profit was 30.7 million yuan (US$5 million) in the first three months, while total revenue rose 113 percent year on year in the period to 672.5 million yuan, of which mobile income took up 55 percent.
It was also the first time that Cheetah’s mobile business, driven by mobile advertising services, contributed more income compared with that from desktops.
Cheetah’s overseas income totaled 256.2 million yuan, or 38 percent of its total revenue. “Our mobile monetization, especially in overseas markets, has already become our main source of revenue and a key growth engine for us since two years ago,” said Fu Sheng, Cheetah Mobile’s chief executive.
Chinese top dot-com giants such as Baidu, Alibaba and Tencent heavily depend on the domestic market.
In March, Cheetah, whose investors include Xiaomi Corp’s founder Lei Jun, said it would acquire global mobile advertising firm MobPartner for US$58 million.
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