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Update: Kingsoft Cloud Shares Rise After Posting Q2 Beat

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(Updates with recent stock movement in the headline and first paragraph.)

Kingsoft Cloud (KC) shares rose more than 15% in afternoon trading on Wednesday after the company posted better-than-expected Q2 financial results.

The company reported a Q2 loss Wednesday of 0.02 Chinese renminbi ($0.00) per diluted share, compared with a loss of 0.11 renminbi a year ago.

Four analysts polled by FactSet expected a loss of 0.05 renminbi.

Revenue for the quarter ended June 30 was 3.07 billion renminbi, up from 2.35 billion renminbi a year ago.

Analysts expected 3.02 billion renminbi.

Price: $12.32, Change: $+1.48, Percent Change: +13.61%

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