Cheetah Mobile announces Q2 2017 unaudited consolidated financial results

Cheetah Mobile Inc. (NYSE: CMCM) (“Cheetah Mobile” or the “company”), a mobile Internet company that aims to provide apps for mobile users worldwide and connect users with personalized content on the mobile platform, has announced its unaudited consolidated financial results for the second quarter ended June 30, 2017, the company said.

Total revenues increased by 14.8% year over year to RMB1,201.6 million (USD 177.2 million), mostly driven by the company´s growth in mobile revenues, which achieved a record high during the second quarter of 2017.

Operating profit increased to RMB66.2 million (USD 9.8 million) from an operating loss of RMB63.0 million in the same period last year. Non-GAAP operating profit increased by 254.3% year over year to RMB90.4 million (USD 13.3 million). In particular, operating profit for the company´s utility products and related services business increased by 50.6% year over year to RMB212.8 million (USD 31.4 million) in the second quarter of 2017, primarily driven by the company´s effort in optimizing its utility products´ cost and expense structure.

Net income attributable to Cheetah Mobile shareholders increased to RMB70.2 million (USD 10.4 million) from a net loss attributable to Cheetah Mobile shareholders of RMB150.5 million in the same period last year.

Cheetah Mobile is a mobile Internet company. It aims to provide apps for mobile users worldwide and connect users with personalized content on the mobile platform. Cheetah Mobile´s products, including its popular utility applications Clean Master, Security Master and Battery Doctor, help make users´ mobile Internet experience smarter, speedier, and safer. Leveraging the success of its utility applications, Cheetah Mobile has launched its line of mobile content-driven applications, including News Republic and Live.me.

Cheetah Mobile provides its advertising customers, which include direct advertisers and mobile advertising networks through which advertisers place their advertisements, with direct access to highly targeted mobile users and global promotional channels, which are capable of delivering targeted content to hundreds of millions of users.