Cheetah Mobile reports 18% increase in Y-o-Y revenues

Cheetah Mobile Inc. (NYSE: CMCM) has reported total revenues increased by 18.1 percent year-over-year to RMB1,046.7million (USD157.5million), exceeding the company´s previous guidance of RMB975 million to RMB1,000 million, the company said.

Mobile revenues increased by 36.7 percent year-over-year to RMB772.3 million (USD116.2 million). Mobile revenues accounted for 73.8 percent of total revenues.

The number of mobile monthly active users was 623 million in June 2016. The number of mobile MAUs from overseas markets accounted for 79.4 percent of total mobile MAUs in June 2016.

Total global mobile user installations was 3,099 million as of June 30, 2016.

Revenues from online marketing services increased by 24.0 percent to RMB939.1 million (USD141.3 million) in the second quarter of 2016 from RMB757.2 million in the prior year period. Mobile advertising revenues represented approximately 77.9 percent of online marketing revenues in the quarter, as compared with approximately 66.7 percent in the prior year period.

During the second quarter of 2016, Cheetah Mobile acquired News Republic, a global mobile news service operator, for a total consideration of up to USD57 million.

During the second quarter of 2016, Cheetah Mobile disposed of its 65 percent interest in Suzhou Jiangduoduo and realized a gain on disposal of RMB13.6 million (USD2.0 million).

Cheetah Mobile Inc. is a mobile Internet company that provides mission critical applications, while building a global mobile ad platform for advertisers.