Kingsoft Cloud Posts First-Ever GAAP Operating Profit; AI Cloud Billings Surge 82%
KC sits 40% above its 52-week low of $8.35.
Summary
Kingsoft Cloud reported record Q2 2026 revenue of RMB3,072.0 million (US$452.8 million), up 30.8% YoY, and achieved its first-ever positive GAAP operating profit. AI cloud billings grew 82% YoY to RMB1,327 million, now 56% of public cloud revenue.
Updates
· Benzinga — Adjusted EPS loss was $0.03, beating the $0.10 loss estimate; shares rose 8.12% to $11.72.
· SEC 6-K — H1 2026 revenue was RMB5,775.7 million, up 33.7% YoY; net loss narrowed 43.5% to RMB436.7 million. Adjusted EBITDA rose 155.0% to RMB1,848.0 million with margin of 32.0%.
Key Events · Earnings and Guidance · KC
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Record Revenue and First GAAP Operating Profit
Total revenue reached RMB3,072.0 million (US$452.8 million), up 30.8% YoY. GAAP operating profit was RMB23.0 million (US$3.4 million), the first positive operating profit in company history.
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AI Cloud Drives Growth
AI cloud gross billings grew 82% YoY to RMB1,327 million (US$195.6 million), representing 56% of public cloud revenue. Public cloud revenue increased 45.1% YoY to RMB2,357.6 million.
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Profitability Inflection
Adjusted operating profit margin reached 4.0%, up from -2.2% in Q1 2026. Net loss narrowed 79.6% YoY to RMB93.0 million (US$13.7 million).
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Heavy AI Infrastructure Investment
Capital expenditures (including capitalized leases) totaled RMB3.3 billion in Q2 2026, up from Q1, reflecting continued investment in AI computing resources.
Analysis · KC · Technology
A breakout quarter for Kingsoft Cloud: revenue hit a record RMB3,072.0 million (US$452.8 million), up 30.8% year-over-year, and the company swung to its first positive GAAP operating profit of RMB23.0 million. The AI cloud segment is the engine — gross billings jumped 82% to RMB1,327 million, now 56% of public cloud revenue. Adjusted operating margin reached 4.0%, a sharp improvement from -2.2% last quarter. Net loss narrowed 79.6% to RMB93.0 million. To sustain this growth, the company is investing heavily, with Q2 capital expenditures of RMB3.3 billion, up from Q1. This is a significant inflection point for a company that has historically burned cash.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 36.1% of the 1051 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.56%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, KC was trading at $11.70 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.4B. The 52-week trading range was $8.35 to $18.52. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.