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KINGSOFT Sinks ~7% in Early Trading; M Stanley: Last Qtr's Gaming Biz Far Below Expectations
Recommend 2 Positive 4 Negative 6 |
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KINGSOFT (03888.HK) opened 2.3% lower this morning (20th) and once sank to a bottom of HKD28. It last traded at HKD28.66, down 6.71%, with a trading volume of 7.2589 million shares, involving HKD208 million. The group announced its results for 3Q ending September after the market closed yesterday. Its turnover dropped by 17% YoY to RMB2.419 billion, while its net profit sank by 48.5% YoY to RMB213 million, with EPS standing at RMB0.15. Morgan Stanley said KINGSOFT's gaming business last quarter performed far below its already lowered expectations. It gave KINGSOFT an Equalweight rating and a target price of HKD38. AAStocks Financial News |
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