Kingsoft's Profit Jumps Nearly Fourfold in Q, Names New CFO
Kingsoft (HKG:3888) posted profit attributable to owners of the parent of 1.09 billion yuan in the first quarter, up 284% from 283.9 million yuan a year earlier, according to a Wednesday Hong Kong bourse filing.Shares of the software company were down over 1% in Thursday morning trade.Earnings per share came in at 0.79 yuan, compared with 0.21 yuan in the prior-year period.Revenue increased 3% to 2.42 billion yuan from 2.34 billion yuan a year earlier.Separately, the company said acting Chief Financial Officer Yi Li will resign from the role, effective June 1, due to adjustments to work arrangements, while remaining vice president of the company.Kingsoft appointed Zhao Yu, the former chief financial officer of Linklogis (HKG:9959), as its new CFO, effective June 1.
