BEIJING, March 20, 2015 /PRNewswire/ -- Cheetah Mobile
Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading
mobile Internet company that provides mission critical applications
to help make the Internet and mobile experience speedier, simpler,
and safer for users worldwide, today announced its unaudited
financial results for the fourth quarter and fiscal year ended
December 31, 2014.
Fourth Quarter 2014 Financial Highlights
- Total revenues increased by 118.8% year-over-year and
23.0% quarter-over-quarter to RMB588.9 million (US$94.9 million).
- Mobile revenues1 increased by 610.2%
year-over-year and 96.6% quarter-over-quarter to RMB 222.1 million (US$35.8
million), led by a significant growth of mobile advertising
revenues. Mobile accounted for 38% of total revenues.
- Overseas revenues increased by 156.5%
quarter-over-quarter to RMB139.1
million (US$22.4 million), led
by a significant ramp-up of mobile advertising revenues in the
overseas market. Overseas accounted for 24% of total revenues
and 63% of mobile revenues.
- GAAP net income attributable to Cheetah Mobile
shareholders increased by 23.8% year-over-year and 780.6%
quarter-over-quarter to RMB32.2
million (US$5.2 million).
- Non-GAAP net income attributable to Cheetah Mobile
shareholders2 (which excludes share-based
compensation expenses) increased by 132.4% year-over-year and 37.3%
quarter-over-quarter to RMB82.7
million (US$13.3
million).
Fourth Quarter 2014 Key Operating Metrics
- Total global mobile user installations increased by 26.3%
quarter-over-quarter to 1,089.1 million as of December 31, 2014.
- Mobile monthly active users ("Mobile MAUs") increased by 137.9%
year-over-year to 395.4 million as of December 31, 2014. Mobile MAUs from overseas
markets were 69.0% of total mobile MAUs in December 2014.
Fiscal Year 2014 Financial Highlights
- Total revenues increased by 135.2% year-over-year
to RMB1,763.6 million (US$284.2
million).
- Mobile revenues increased by 741.3% year-over-year to
RMB465.0 million (US$74.9 million). Mobile accounted for 26% of
total revenues.
- Overseas revenues were RMB221.9
million (US$35.8 million).
Overseas accounted for 13% of total revenues and 48% of mobile
revenues.
- GAAP net income attributable to Cheetah Mobile
shareholders increased by 9.6% year-over-year to RMB67.9 million (US$11.0
million).
- Non-GAAP net income attributable to Cheetah Mobile
shareholders (which excludes share-based compensation expenses)
increased by 142.6% year-over-year to RMB241.2 million (US$38.9
million).
1 Mobile revenues included revenues
from HongKong Zoom Interactive, which was acquired by Cheetah
Mobile in July 2014.
|
2 Non-GAAP net income attributable to
Cheetah Mobile shareholders is a non-GAAP financial measure, which
is defined as net income to Cheetah Mobile Inc. excluding
share-based compensation expenses.
|
Mr. Sheng Fu, Cheetah Mobile's
Chief Executive Officer, stated, "2014 was a break-through year for
our mobile and global businesses and we finished on a high note
with our mobile monthly active users quickly approaching the
impressive 400 million users mark. Led by the success of
Clean Master, we have built a strong product matrix of mobile apps
in 2014 with four of our apps each accumulating more than 100
million downloads on Google Play. According to App Annie, Cheetah Mobile was the No. 2
publisher for non-game apps globally on Google Play, and the No. 1
publisher in the tools category for December 2014. This
success helped drive mobile revenues to increase more than six
times year over year and nearly double quarter over quarter in the
fourth quarter, demonstrating our significant progress in mobile
monetization. In addition, since we began our overseas
monetization efforts in the second quarter of 2014, our overseas
revenues have increased significantly and now account for 24% of
our total revenues and 63% of mobile revenues in the fourth
quarter. Given these strong secular trends, mobile will
remain the key growth driver for our company and will account for
more than 50% of total revenues by the end of the first half 2015.
Additionally, our acquisition of MobPartner, when completed, will
further enhance our global mobile monetization capabilities and
expand our advertising footprint globally. Going forward, we remain
focused on building one of the world's leading mobile advertising
platforms."
Mr. Andy Yeung, Cheetah Mobile's
Chief Financial Officer, commented, "Robust mobile performance
again drove our strong topline growth this quarter. Total revenues
grew 119% year-over-year and 23% quarter-over-quarter to
RMB588.9 million, exceeding the high
end of our previous guidance. The strong ramp-up in our
mobile revenues, particularly in overseas markets, clearly
validates our investments in the mobile and global arenas. In
2015, we will continue to invest aggressively in our mobile
business and strengthen our foundation for continued success in
this rapidly developing market.
Fourth Quarter 2014 Financial Results
REVENUES
Total revenues for the fourth
quarter of 2014 increased by 118.8% to RMB588.9 million (US$94.9
million) from RMB269.2 million
in the prior year period. This increase was driven by organic
business growth, primarily due to substantial improvements in
mobile monetization.
- Revenues from online marketing services increased by
109.9% to RMB446.1 million
(US$71.9 million) in the fourth
quarter of 2014 from RMB212.5 million
in the prior year period. This increase was primarily driven by
strong demand for our mobile advertising business in both the
domestic and overseas markets as well as the rapid growth of the
worldwide mobile advertising market. This increase was also due to
growth in marketing revenues from key online marketing customers,
driven by growth in user traffic on the Company's online marketing
platforms.
- Revenues from internet value added services
("IVAS") increased by 226.1% to RMB137.0
million (US$22.1 million)
in the fourth quarter of 2014 from RMB42.0
million in the prior year period. This increase was
primarily driven by the increase in the number of PC and mobile
games published by the Company, and the increase in the number of
monthly paying users.
- Revenues from Internet security services and others
decreased by 60.4% to RMB5.8 million
(US$0.9 million) in the fourth
quarter of 2014 from RMB14.6 million
in the prior year period. This decrease was primarily due to the
Company ceasing to promote subscriptions services to paying users
in a strategic reorientation which started in 2011, resulting in a
decrease in the number of paying customers.
By platform, revenues generated from our mobile
business2 increased by 610.2% to RMB222.1 million (US$35.8
million) from RMB31.3 million
in the prior year period. This increase was primarily due to the
increased acceptance of the Company's mobile marketing services in
both the domestic and overseas markets, and a rapid growth of
mobile advertising market globally. This increase was also driven
by the growth of the Company's mobile gaming business.
COST OF REVENUES AND GROSS PROFIT
Cost of
revenues increased by 178.4% to RMB141.0
million (US$22.7 million) in
the fourth quarter of 2014 from RMB50.6
million in the prior year period. The increase in cost of
revenues was mainly driven by higher costs associated with the
mobile game business, higher bandwidth and Internet data center
(IDC) costs associated with increased user traffic, as well as
higher amortization costs from acquired intangible assets.
Gross profit increased by 104.9% to RMB447.9 million (US$72.2
million) in the fourth quarter of 2014 from RMB218.5 million in the prior year period. Gross
margin was 76.1% in the fourth quarter of 2014, compared to 81.2%
in the prior year period.
OPERATING INCOME AND EXPENSES
Total operating
expenses for the fourth quarter of 2014 increased by 133.6% to
RMB393.2 million (US$63.4 million) from RMB168.3 million in the prior year period. Total
non-GAAP operating expenses, which exclude share-based compensation
expenses, for the fourth quarter of 2014 increased by 116.3% to
RMB343.3 million (US$55.3 million) from RMB158.7 million in the prior year period.
- Research and development expenses increased by 106.3% to
RMB120.1 million (US$19.4 million) from RMB58.2 million in the prior year period. This
increase was primarily due to an increase in the number of research
and development personnel as well as an increase in share-based
compensation expenses. Non-GAAP research and development expenses,
which exclude share-based compensation expenses, for the fourth
quarter of 2014 increased by 95.7% to RMB105.3 million (US$17.0
million) from RMB53.8 million
in the prior year period.
- Selling and marketing expenses increased by 111.8% to
RMB184.3 million (US$29.7 million) from RMB87.0 million in the prior year period. The
increase was primarily due to promotional spending for the mobile
business. Non-GAAP selling and marketing expenses, which exclude
share-based compensation expenses, increased by 115.1% to
RMB182.0 million (US$29.3 million) from RMB84.6 million in the prior year period.
- General and administrative expenses increased by 284.6% to
RMB88.8 million (US$14.3 million) from RMB23.1 million in the prior year period. This
increase was primarily due to an increase in share-based
compensation expenses and professional service fees as well as an
increase in headcount. Non-GAAP general and administrative
expenses, which exclude share-based compensation expenses,
increased by 175.5% to RMB56.0
million (US$9.0 million) from
RMB20.3 million in the prior year
period.
Operating profit was RMB54.7
million (US$8.8 million) in
the fourth quarter of 2014, compared to RMB50.2 million in the prior year period.
Operating margin was 9.3% in the fourth quarter of 2014, compared
to 18.7% in the prior year period.
Non-GAAP operating profit3 increased by 76.0% to
RMB105.3 million (US$17.0 million) in the fourth quarter of 2014
from RMB59.8 million in the prior
year period. Non-GAAP operating margin was 17.9% in the fourth
quarter of 2014, compared to 22.2% in the prior year period.
For the fourth quarter of 2014, share-based compensation
expenses were RMB50.6 million
(US$8.2 million), compared to
RMB9.6 million in the fourth quarter
of 2013.
NET INCOME ATTRIBUTABLE TO CHEETAH MOBILE
SHAREHOLDERS
Net income attributable to Cheetah Mobile
shareholders increased by 23.8% to RMB32.2
million (US$5.2 million) in
the fourth quarter of 2014 from RMB26.0
million in the prior year period. Net margin was 5.5% in the
fourth quarter of 2014, compared to 9.7% in the prior year
period.
Non-GAAP net income attributable to Cheetah Mobile shareholders
increased by 132.4% to RMB82.7
million (US$13.3 million) from
RMB35.6 million in the prior year
period. Non-GAAP net margin4 increased to 14.1% in the
fourth quarter of 2014 from 13.2% in the prior year period.
NET INCOME PER ADS
Diluted earnings per ADS in
the fourth quarter of 2014 increased to RMB0.23 (US$0.04)
from RMB0.21 in the prior year
period.
Non-GAAP diluted earnings per ADS5 in the fourth
quarter of 2014 increased to RMB0.59
(US$0.10) from RMB0.29 in the prior year period.
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
BALANCE
As of December 31,
2014, the Company had cash, cash equivalents, and short-term
investments of RMB 1.6 billion
(US$259.0 million).
SHARES ISSUED AND OUTSTANDING
As of
December 31, 2014, the Company had a
total of 1,416,602,712 Class A and Class B ordinary shares issued
and outstanding. One ADS represents 10 Class A ordinary shares.
3 Non-GAAP
operating profit is a non-GAAP financial measure, which is defined
as operating profit excluding share-based compensation
expenses.
|
4 Non-GAAP
net margin is a non-GAAP financial measure, which is defined as
Non-GAAP net income as a percentage of total revenues.
|
5 Non-GAAP
diluted earnings per ADS in a non-GAAP financial measure, which is
defined as non-GAAP net income divided by weighted average number
of diluted ADS.
|
Fiscal Year 2014 Results
REVENUES
Total revenues for 2014
increased by 135.2% to RMB1,763.6
million (US$284.2 million)
from RMB749.9 million in 2013. This
increase was primarily due to growth in our user traffic and strong
demand for our advertising services on both PC and mobile
platforms.
- Revenues from online marketing services increased by
115.9% to RMB1,322.6 million
(US$213.2 million) in 2014 from
RMB612.6 million in 2013. This
increase was due to growth in marketing revenues from key online
marketing customers, driven by growth in user traffic on the
Company's online marketing platforms. This increase was also a
result of the significant growth of our mobile advertising
business.
- Revenues from internet value added services
("IVAS") increased by 381.8% to RMB400.7
million (US$64.6 million)
in 2014 from RMB83.2 million in 2013.
This increase was primarily driven by the increase in the number of
PC and mobile games published by the Company, and the increase in
the number of monthly paying users.
- Revenues from internet security services and others
decreased by 25.6% to RMB40.3 million
(US$6.5 million) in 2014 from
RMB54.2 million in 2013. This
decrease was primarily due to the Company ceasing to promote
subscriptions services to paying users in a strategic reorientation
which started in 2011, resulting in a decrease in the number of
paying customers.
By platform, revenues generated from our mobile
business increased by 741.3% to RMB465.0
million (US$74.9 million) from
RMB55.3 million in 2013. This
increase was primarily due to the increased acceptance of the
Company's mobile marketing services and the growth of its mobile
gaming services.
COST OF REVENUES AND GROSS PROFIT
Cost of
revenues increased by 187.1% to RMB403.4
million (US$65.0 million) in
2014 from RMB140.5 million in the
prior year period. The increase in cost of revenues was mainly
driven by higher costs associated with the mobile game business,
higher VAT costs, higher bandwidth and IDC costs associated with
increased user traffic, and higher amortization costs from acquired
intangible assets.
Gross profit increased by 123.2% to RMB1,360.2 million (US$219.2 million) in 2014 from RMB609.4 million in 2013. Gross margin was 77.1%
in 2014, compared to 81.3% in 2013.
OPERATING INCOME AND EXPENSES
Total operating
expenses for 2014 increased by 147.0% to RMB1,277.5 million (US$205.9 million) from RMB517.2 million in 2013. Total non-GAAP
operating expenses, which exclude share-based compensation
expenses, for 2014 increased by 130.4% to RMB1,105.6 million (US$178.2 million) from RMB479.8 million in 2013.
- Research and development expenses increased by 100.5% to
RMB436.8 million (US$70.4 million) from RMB217.8 million in 2013. This increase was
primarily due to an increase in the number of research and
development personnel as well as an increase in share-based
compensation expenses. Non-GAAP research and development expenses,
which exclude share-based compensation expenses, for 2014 increased
by 89.7% to RMB385.7 million
(US$62.2 million) from RMB203.3 million in 2013.
- Selling and marketing expenses increased by 188.1% to
RMB580.6 million (US$93.6 million) from RMB201.5 million in 2013. The increase was
primarily due to promotional spending for the mobile business.
Non-GAAP selling and marketing expenses, which exclude share-based
compensation expenses, increased by 188.5% to RMB573.2 million (US$92.4
million) from RMB198.7 million
in 2013.
- General and administrative expenses increased by 165.9% to
RMB260.0 million (US$41.9 million) from RMB97.8 million in 2013. This increase was
primarily due to an increase in share-based compensation expenses
and professional service fees as well as an increase in headcount.
Non-GAAP general and administrative expenses, which exclude
share-based compensation expenses, increased by 88.7% to
RMB146.7 million (US$23.7 million) from RMB77.8 million in the prior year period.
Operating profit was RMB82.7
million (US$13.3 million) in
2014, compared to RMB92.2 million in
2013. Operating margin was 4.7% in 2014, compared to 12.3% in
2013.
Non-GAAP operating profit increased by 97.5% to RMB255.9 million (US$41.2
million) in 2014 from RMB129.6
million in 2013. Non-GAAP operating margin was 14.5% in
2014, compared to 17.4% in 2013.
For 2014, share-based compensation expenses were RMB173.3 million (US$27.9
million), compared to RMB37.4
million in 2013.
NET INCOME ATTRIBUTABLE TO CHEETAH MOBILE
SHAREHOLDERS
Net income attributable to Cheetah Mobile
shareholders increased by 9.6% to RMB67.9
million (US$11.0 million) in
2014 from RMB62.0 million in 2013.
Diluted earnings per ADS for 2014 were RMB
0.51 (US$0.08).
Non-GAAP net income attributable to Cheetah Mobile shareholders
increased by 142.6% to RMB241.2
million (US$38.9 million) from
RMB99.4 million in 2013. Non-GAAP
diluted earnings per ADS for 2014 were RMB
1.80 (US$0.29).
Business Outlook
For the first quarter of 2015, the Company expects its total
estimated revenues to be between RMB640
million (US$103 million) and
RMB650 million (US$105 million), representing a year-over-year
growth of approximately 103% to 106%. The forecast reflects the
Company's current and preliminary view, which is subject to
change.
Conference Call Information
Company will hold a conference call on Friday, March 20, 2015 at 8:00 am Eastern Time or 8:00 pm Beijing Time to discuss the financial
results. Listeners may access the call by dialing the following
numbers:
International: +1-412-902-4272
United States Toll Free: +1-888-346-8982
China Toll Free: 4001-201203
Hong Kong Toll Free: 800-905945
Conference ID: Cheetah Mobile
A live and archived webcast of the conference call will also be
available at the Company's investor relations website at
http://ir.cmcm.com/.
Exchange Rate
This press release contains translations
of certain Renminbi amounts into U.S. dollars at specified rates
solely for the convenience of readers. Unless otherwise noted, all
translations from Renminbi to U.S. dollars, in this press release,
were made at a rate of RMB6.2046 to
US$1.00, the noon buying rate in
effect on December 31, 2014 in the
City of New York for cable
transfers in Renminbi per U.S. dollar as certified for customs
purposes by the Federal Reserve Bank of New York. Such translations should not be
construed as representations that RMB amounts could be converted
into U.S. dollars at that rate or any other rate, or to be the
amounts that would have been reported under accounting principles
generally accepted in the United States
of America ("U.S. GAAP").
About Cheetah Mobile Inc.
Cheetah Mobile is a leading
mobile internet company with approximately 395.4 million mobile
monthly active users in December
2014. Its mission critical applications, including Clean
Master, CM Security, Battery Doctor and Duba Anti-virus, help make
the internet and mobile experience speedier, simpler, and safer for
users worldwide. Cheetah Mobile is the publisher of Clean Master,
the #1 mobile app in the Google Play Tools category worldwide by
monthly downloads in December 2014,
according to App Annie.
The Company also provides various platform products such as
Duba.com, Cheetah browser, game centers, and mobile app stores to
provide multiple user traffic entry points and global content
distribution channels for its business partners.
Safe Harbor Statements
This press release contains
forward-looking statements. These statements, including
management quotes and business outlook, constitute forward-looking
statements under the U.S. Private Securities Litigation Reform Act
of 1995. These forward-looking statements can be identified
by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar
statements. Such statements involve certain risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in the forward-looking
statements. These forward-looking statements include, but are
not limited to, statements about: Cheetah Mobile's growth
strategies; Cheetah Mobile's ability to retain and increase its
user base and expand its product and service offerings; Cheetah
Mobile's ability to monetize its platform; Cheetah Mobile's future
business development, financial condition and results of
operations; competition from companies in a number of industries
including internet companies that provide online marketing services
and internet value-added services; expected changes in Cheetah
Mobile's revenues and certain cost or expense items; and general
economic and business condition globally and in China. Further information regarding these and
other risks is included in Cheetah Mobile's filings with the U.S.
Securities and Exchange Commission. Cheetah Mobile does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events or otherwise, except as
required under applicable law.
Use of Non-GAAP Financial Measures
To supplement
Cheetah Mobile's consolidated financial information presented in
accordance with U.S. GAAP, Cheetah Mobile uses adjusted operating
profit, adjusted operating margin, adjusted net income, adjusted
net margin and adjusted diluted earnings per ADS, which are
non-GAAP financial measures.
Adjusted operating profit and adjusted operating margin reflects
operating profit excluding share-based compensation costs. Adjusted
net income is net income excluding share-based compensation costs.
Adjusted net margin is adjusted net income as a percentage of total
revenues. Adjusted diluted earnings per ADS is adjusted net income
or loss attributable to ordinary shareholders divided by weighted
average number of diluted ADS.
The Company believes that separate analysis and exclusion of the
non-cash impact of share-based compensation costs adds clarity to
the constituent parts of its performance from the cash perspective.
The Company reviews these non-GAAP financial measures together with
GAAP financial measures to obtain a better understanding of its
operating performance. It uses the non-GAAP financial measure for
planning, forecasting and measuring results against the forecast.
The Company believes that non-GAAP financial measure is useful
supplemental information for investors and analysts to assess its
operating performance without the effect of non-cash share-based
compensation costs, which have been and will continue to be
significant recurring expenses in its business. However, the use of
non-GAAP financial measures has material limitations as an
analytical tool. One of the limitations of using non-GAAP financial
measures is that they do not include all items that impact the
Company's net income for the period. In addition, because non-GAAP
financial measures are not measured in the same manner by all
companies, they may not be comparable to other similar titled
measures used by other companies. In light of the foregoing
limitations, you should not consider non-GAAP financial measure in
isolation from or as an alternative to the financial measure
prepared in accordance with U.S. GAAP. For more information on
these non-GAAP financial measures, please see the table captioned
"Cheetah Mobile Inc. Reconciliations of GAAP and Non-GAAP Results"
at the end of this release.
Investor Relations Contact
Cheetah Mobile Inc.
Helen Jing Zhu
Tel: +86 10 6292 7779
Email: IR@cmcm.com
ICR, Inc.
Calvin Jiang
Tel: +1 (646) 417-5395
Email: IR@cmcm.com
Cheetah Mobile
Inc.
|
Condensed
Consolidated Balance Sheet
|
(In '000, except for
per share data)
|
|
As
of
|
|
December 31,
2013
|
December
31, 2014
|
December
31, 2014
|
|
RMB
|
RMB
|
USD
|
|
(Audited)
|
(Unaudited)
|
(Unaudited)
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
530,536
|
1,093,285
|
176,206
|
Short-term
investments
|
55,780
|
513,621
|
82,781
|
Accounts
receivable
|
100,428
|
260,347
|
41,960
|
Prepayments and other
current assets
|
63,037
|
180,029
|
29,015
|
Due from related
parities
|
12,868
|
43,570
|
7,022
|
Deferred tax
assets
|
1,913
|
2,693
|
434
|
Total current
assets
|
764,562
|
2,093,545
|
337,418
|
|
|
|
|
Non-current
assets:
|
|
|
|
Property and
equipment , net
|
31,326
|
45,905
|
7,399
|
Intangible assets,
net
|
32,850
|
199,616
|
32,172
|
Goodwill
|
52,819
|
261,686
|
42,177
|
Long-term
investments
|
12,054
|
338,842
|
54,612
|
Deferred tax
assets
|
7,178
|
6,384
|
1,029
|
Other non-current
assets
|
8,804
|
55,197
|
8,896
|
Total non-current
assets
|
145,031
|
907,630
|
146,285
|
|
|
|
|
Total
assets
|
909,593
|
3,001,175
|
483,703
|
|
|
|
|
LIABILITIES,
MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
Accounts
payable
|
23,439
|
61,793
|
9,959
|
Accrued expenses and
other current liabilities
|
181,551
|
481,694
|
77,635
|
Redemption right
liabilities
|
5,711
|
520
|
84
|
Deferred
revenue
|
7,840
|
44,180
|
7,121
|
Due to related
parties
|
31,893
|
29,885
|
4,817
|
Income tax
payable
|
13,534
|
3,584
|
578
|
Deferred tax
liability
|
-
|
-
|
-
|
Total current
liabilities
|
263,968
|
621,656
|
100,194
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
Deferred
revenue
|
2,866
|
1,134
|
183
|
Deferred tax
liability
|
39,206
|
65,991
|
10,636
|
Other non-current
liabilities
|
9,485
|
29,525
|
4,759
|
Total non-current
liabilities
|
51,557
|
96,650
|
15,578
|
|
|
|
|
Total
liabilities
|
315,525
|
718,306
|
115,772
|
|
|
|
|
Commitments and
contingencies
|
|
|
|
|
|
|
|
Mezzanine
equity:
|
|
|
|
Series A convertible
preferred shares
|
119,976
|
-
|
-
|
Series B convertible
preferred shares
|
321,965
|
-
|
-
|
Total mezzanine
equity
|
441,941
|
-
|
-
|
|
|
|
|
Shareholders'
equity:
|
|
|
|
Ordinary
shares
|
150
|
222
|
36
|
Additional paid-in
capital
|
63,919
|
2,059,983
|
332,007
|
Retained
earnings
|
74,819
|
142,760
|
23,009
|
Accumulated other
comprehensive income
|
13,239
|
3,373
|
544
|
Total Cheetah
Mobile shareholders' equity
|
152,127
|
2,206,338
|
355,596
|
Non-controlling
interests
|
-
|
76,531
|
12,335
|
Total
equity
|
152,127
|
2,282,869
|
367,931
|
|
|
|
|
Total liabilities,
mezzanine equity and shareholders' equity
|
909,593
|
3,001,175
|
483,703
|
Cheetah Mobile
Inc.
|
Condensed
Consolidated Statements of Comprehensive Income
|
(In '000, except for
per share data and number of shares and ADSs)
|
|
|
For The Three
Months Ended
|
|
December 31,
2013
|
September 30,
2014
|
December 31,
2014
|
December 31,
2014
|
|
RMB
|
RMB
|
RMB
|
USD
|
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
Revenues
|
269,179
|
478,678
|
588,888
|
94,912
|
Online marketing
services
|
212,532
|
360,942
|
446,122
|
71,902
|
Internet value-added
services
|
42,004
|
107,331
|
136,968
|
22,075
|
Internet security
services and others
|
14,643
|
10,405
|
5,798
|
935
|
|
|
|
|
|
Cost of revenues
(a)
|
(50,630)
|
(110,250)
|
(140,973)
|
(22,721)
|
Gross
profit
|
218,549
|
368,428
|
447,915
|
72,191
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
Research and
development (a)
|
(58,214)
|
(135,658)
|
(120,086)
|
(19,354)
|
Selling and marketing
(a)
|
(87,012)
|
(167,154)
|
(184,287)
|
(29,702)
|
General and
administrative (a)
|
(23,095)
|
(70,368)
|
(88,822)
|
(14,316)
|
Total operating
expenses
|
(168,321)
|
(373,180)
|
(393,195)
|
(63,372)
|
|
|
|
|
|
Operating
profit(loss)
|
50,228
|
(4,752)
|
54,720
|
8,819
|
Other income
(expenses):
|
|
|
|
|
Interest
income
|
2,549
|
11,245
|
9,678
|
1,560
|
Changes in fair value
of redemption right granted to a non-controlling
shareholder
|
6,593
|
1
|
(2)
|
-
|
Changes in fair value
of contingent consideration
|
(425)
|
(1,516)
|
(11,271)
|
(1,817)
|
Changes in fair value
of put options granted to employees
|
-
|
(47)
|
374
|
60
|
Foreign exchange gain
(loss), net
|
(402)
|
(221)
|
129
|
21
|
Impairment loss of
available for sale investment
|
-
|
-
|
(8,664)
|
(1,397)
|
Other income,
net
|
220
|
2,107
|
811
|
131
|
Gains (losses) from
equity method investments
|
721
|
(2,070)
|
(524)
|
(84)
|
|
|
|
|
|
Income before
tax
|
59,484
|
4,747
|
45,251
|
7,293
|
Income tax benefit
(expense)
|
(33,490)
|
(1,229)
|
(13,968)
|
(2,251)
|
Net
income
|
25,994
|
3,518
|
31,283
|
5,042
|
Less: net loss
attributable to non-controlling interests
|
-
|
(136)
|
(894)
|
(144)
|
Net income
attributable to Cheetah Mobile Shareholders
|
25,994
|
3,654
|
32,177
|
5,186
|
|
|
|
|
|
Earnings per
share
|
|
|
|
|
Basic
|
0.02
|
0.00
|
0.02
|
0.00
|
Diluted
|
0.02
|
0.00
|
0.02
|
0.00
|
|
|
|
|
|
Earnings per
ADS
|
|
|
|
|
Basic
|
0.22
|
0.03
|
0.24
|
0.04
|
Diluted
|
0.21
|
0.03
|
0.23
|
0.04
|
|
|
|
|
|
Weighted average
number of shares outstanding
|
|
|
|
|
Basic
|
937,219,852
|
1,354,042,944
|
1,354,673,777
|
1,354,673,777
|
Diluted
|
1,203,409,240
|
1,418,624,992
|
1,410,449,593
|
1,410,449,593
|
Weighted average
number of ADSs used in computation
|
|
|
|
|
Basic
|
93,721,985
|
135,404,294
|
135,467,378
|
135,467,378
|
Diluted
|
120,340,924
|
141,862,499
|
141,044,959
|
141,044,959
|
|
|
|
|
|
|
|
|
|
|
Other
comprehensive income (loss), net of tax
|
|
|
|
|
Foreign currency
translation adjustments
|
(3,087)
|
(316)
|
(9,118)
|
(1,470)
|
Unrealized gains on
available-for-sale securities, net
|
20,960
|
(6,387)
|
17,651
|
2,845
|
Other
comprehensive income (loss)
|
17,873
|
(6,703)
|
8,533
|
1,375
|
Total
comprehensive income (loss)
|
43,867
|
(3,185)
|
39,816
|
6,417
|
Less: Total
comprehensive loss attributable to non-controlling
interests
|
-
|
(136)
|
(894)
|
(144)
|
Total
comprehensive income (loss) attributable to Cheetah Mobile
Shareholders
|
43,867
|
(3,049)
|
40,710
|
6,561
|
|
|
|
|
|
(a) Share-based
compensation expenses
|
|
|
|
|
|
|
|
|
|
(In
'000)
|
For The Three
Months Ended
|
|
December 31,
2013
|
September
30, 2014
|
December 31,
2014
|
December 31,
2014
|
|
RMB
|
RMB
|
RMB
|
USD
|
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
Cost of
revenues
|
2
|
715
|
677
|
109
|
Research and
development
|
4,432
|
15,598
|
14,809
|
2,387
|
Selling and
marketing
|
2,399
|
2,382
|
2,249
|
362
|
General and
administrative
|
2,775
|
37,902
|
32,834
|
5,292
|
Total
|
9,608
|
56,597
|
50,569
|
8,150
|
Cheetah Mobile
Inc.
|
Condensed
Consolidated Statements of Comprehensive Income
|
(In '000, except for
per share data and number of shares and ADSs)
|
|
Year Ended
December 31,
|
|
2013
|
2014
|
2014
|
|
RMB
|
RMB
|
USD
|
|
(Audited)
|
(Unaudited)
|
(Unaudited)
|
Revenues
|
749,911
|
1,763,579
|
284,237
|
Online marketing
services
|
612,565
|
1,322,612
|
213,166
|
Internet value-added
services
|
83,155
|
400,671
|
64,576
|
Internet security
services and others
|
54,191
|
40,296
|
6,495
|
|
|
|
|
Cost of revenues
(a)
|
(140,526)
|
(403,412)
|
(65,018)
|
Gross
profit
|
609,385
|
1,360,167
|
219,219
|
|
|
|
|
Operating
expenses:
|
|
|
|
Research and
development (a)
|
(217,846)
|
(436,840)
|
(70,406)
|
Selling and marketing
(a)
|
(201,504)
|
(580,610)
|
(93,577)
|
General and
administrative (a)
|
(97,817)
|
(260,047)
|
(41,912)
|
Total operating
expenses
|
(517,167)
|
(1,277,497)
|
(205,895)
|
|
|
|
|
Operating profit
(loss)
|
92,218
|
82,670
|
13,324
|
Other income
(expenses):
|
|
|
|
Interest
income
|
7,077
|
28,216
|
4,548
|
Changes in fair value
of redemption right granted to a non-controlling
shareholder
|
11,146
|
3,576
|
576
|
Changes in fair value
of contingent consideration
|
(1,067)
|
(13,749)
|
(2,216)
|
Changes in fair value
of put options granted to employees
|
-
|
799
|
129
|
Foreign exchange gain
(loss), net
|
920
|
16
|
3
|
Impairment loss of
available for sale investment
|
-
|
(8,664)
|
(1,397)
|
Other income,
net
|
2,243
|
3,487
|
562
|
Losses from equity
method investments
|
(1,849)
|
(5,447)
|
(878)
|
|
|
|
|
Income before
tax
|
110,688
|
90,904
|
14,651
|
Income tax benefit
(expenses)
|
(48,670)
|
(23,993)
|
(3,867)
|
Net
income
|
62,018
|
66,911
|
10,784
|
Less:net loss
attributable to non-controlling interests
|
-
|
(1,030)
|
(166)
|
Net income
attributable to Cheetah Mobile Shareholders
|
62,018
|
67,941
|
10,950
|
|
|
|
|
Earnings per
share
|
|
|
|
Basic
|
0.06
|
0.05
|
0.01
|
Diluted
|
0.05
|
0.05
|
0.01
|
|
|
|
|
Earnings per
ADS
|
|
|
|
Basic
|
0.57
|
0.53
|
0.08
|
Diluted
|
0.54
|
0.51
|
0.08
|
|
|
|
|
Weighted average
number of shares outstanding
|
|
|
|
Basic
|
929,119,153
|
1,210,501,020
|
1,210,501,020
|
Diluted
|
1,135,982,953
|
1,341,732,457
|
1,341,732,457
|
Weighted average
number of ADSs used in computation
|
|
|
|
Basic
|
92,911,915
|
121,050,102
|
121,050,102
|
Diluted
|
113,598,295
|
134,173,246
|
134,173,246
|
|
|
|
|
|
|
|
|
Other
comprehensive income (loss), net of tax
|
|
|
|
Foreign currency
translation adjustments
|
(6,087)
|
(6,864)
|
(1,106)
|
Unrealized losses on
available-for-sale securities, net
|
20,929
|
(3,002)
|
(484)
|
Other
comprehensive income (loss)
|
14,842
|
(9,866)
|
(1,590)
|
Total
comprehensive income (loss)
|
76,860
|
57,045
|
9,194
|
Less: Total
comprehensive income attributable to non-controlling
interests
|
-
|
(1,030)
|
(166)
|
Total
comprehensive income attributable to Cheetah Mobile
Shareholders
|
76,860
|
58,075
|
9,360
|
|
|
|
|
(a) Share-based
compensation expenses
|
|
|
|
|
|
|
|
(In
'000)
|
Year Ended
December 31,
|
|
2013
|
2014
|
2014
|
|
RMB
|
RMB
|
USD
|
|
(Audited)
|
(Unaudited)
|
(Unaudited)
|
Cost of
revenues
|
10
|
1,393
|
225
|
Research and
development
|
14,520
|
51,176
|
8,248
|
Selling and
marketing
|
2,835
|
7,407
|
1,194
|
General and
administrative
|
20,031
|
113,298
|
18,260
|
Total
|
37,396
|
173,274
|
27,927
|
Cheetah Mobile
Inc.
|
Reconciliation of
GAAP to Non-GAAP Results
|
(In '000, except for
per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended December 31, 2014
|
|
|
|
GAAP
|
|
% of
Net
|
|
Share-based
|
|
% of
Net
|
|
Non-GAAP
|
|
% of
Net
|
|
Non-GAAP
|
|
Result
|
|
Revenues
|
|
Compensation
|
|
Revenues
|
|
Result
|
|
Revenues
|
|
Result
($)
|
Revenues
|
588,888
|
|
|
|
-
|
|
|
|
588,888
|
|
|
|
94,912
|
Cost of
revenues
|
(140,973)
|
|
23.9%
|
|
677
|
|
0.1%
|
|
(140,296)
|
|
23.8%
|
|
(22,612)
|
Gross
profit
|
447,915
|
|
76.1%
|
|
677
|
|
0.1%
|
|
448,592
|
|
76.2%
|
|
72,300
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
(120,086)
|
|
20.4%
|
|
14,809
|
|
2.5%
|
|
(105,277)
|
|
17.9%
|
|
(16,968)
|
Selling and
marketing
|
(184,287)
|
|
31.3%
|
|
2,249
|
|
0.4%
|
|
(182,038)
|
|
30.9%
|
|
(29,339)
|
General and
administrative
|
(88,822)
|
|
15.1%
|
|
32,834
|
|
5.6%
|
|
(55,988)
|
|
9.5%
|
|
(9,024)
|
Total operating
expenses
|
(393,195)
|
|
66.8%
|
|
49,892
|
|
8.5%
|
|
(343,303)
|
|
58.3%
|
|
(55,331)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
profit
|
54,720
|
|
9.3%
|
|
50,569
|
|
8.6%
|
|
105,289
|
|
17.9%
|
|
16,969
|
Net income
attributable to Cheetah Mobile Shareholders
|
32,177
|
|
5.5%
|
|
50,569
|
|
8.6%
|
|
82,746
|
|
14.1%
|
|
13,336
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
0.02
|
|
|
|
0.04
|
|
|
|
0.06
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
0.23
|
|
|
|
0.36
|
|
|
|
0.59
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
0.04
|
|
|
|
0.06
|
|
|
|
0.10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended September 30, 2014
|
|
|
|
GAAP
|
|
% of
Net
|
|
Share-based
|
|
% of
Net
|
|
Non-GAAP
|
|
% of
Net
|
|
|
|
Result
|
|
Revenues
|
|
Compensation
|
|
Revenues
|
|
Result
|
|
Revenues
|
|
|
Revenues
|
478,678
|
|
|
|
-
|
|
|
|
478,678
|
|
|
|
|
Cost of
revenues
|
(110,250)
|
|
23.0%
|
|
715
|
|
0.1%
|
|
(109,535)
|
|
22.9%
|
|
|
Gross
profit
|
368,428
|
|
77.0%
|
|
715
|
|
0.1%
|
|
369,143
|
|
77.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
(135,658)
|
|
28.3%
|
|
15,598
|
|
3.2%
|
|
(120,060)
|
|
25.1%
|
|
|
Selling and
marketing
|
(167,154)
|
|
34.9%
|
|
2,382
|
|
0.5%
|
|
(164,772)
|
|
34.4%
|
|
|
General and
administrative
|
(70,368)
|
|
14.7%
|
|
37,902
|
|
7.9%
|
|
(32,466)
|
|
6.8%
|
|
|
Total operating
expenses
|
(373,180)
|
|
77.9%
|
|
55,882
|
|
11.6%
|
|
(317,298)
|
|
66.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit
(loss)
|
(4,752)
|
|
0.9%
|
|
56,597
|
|
11.7%
|
|
51,845
|
|
10.8%
|
|
|
Net income
attributable to Cheetah Mobile Shareholders
|
3,654
|
|
0.8%
|
|
56,597
|
|
11.7%
|
|
60,251
|
|
12.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
0.00
|
|
|
|
0.04
|
|
|
|
0.04
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
0.03
|
|
|
|
0.40
|
|
|
|
0.43
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
0.01
|
|
|
|
0.06
|
|
|
|
0.07
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended December 31, 2013
|
|
|
|
GAAP
|
|
% of
Net
|
|
Share-based
|
|
% of
Net
|
|
Non-GAAP
|
|
% of
Net
|
|
|
|
Result
|
|
Revenues
|
|
Compensation
|
|
Revenues
|
|
Result
|
|
Revenues
|
|
|
Revenues
|
269,179
|
|
|
|
-
|
|
|
|
269,179
|
|
|
|
|
Cost of
revenues
|
(50,630)
|
|
18.8%
|
|
2
|
|
0.0%
|
|
(50,628)
|
|
18.8%
|
|
|
Gross
profit
|
218,549
|
|
81.2%
|
|
2
|
|
0.0%
|
|
218,551
|
|
81.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
(58,214)
|
|
21.6%
|
|
4,432
|
|
1.6%
|
|
(53,782)
|
|
20.0%
|
|
|
Selling and
marketing
|
(87,012)
|
|
32.3%
|
|
2,399
|
|
0.9%
|
|
(84,613)
|
|
31.4%
|
|
|
General and
administrative
|
(23,095)
|
|
8.6%
|
|
2,775
|
|
1.0%
|
|
(20,320)
|
|
7.6%
|
|
|
Total operating
expenses
|
(168,321)
|
|
62.5%
|
|
9,606
|
|
3.5%
|
|
(158,715)
|
|
59.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
profit
|
50,228
|
|
18.7%
|
|
9,608
|
|
3.5%
|
|
59,836
|
|
22.2%
|
|
|
Net income
attributable to Cheetah Mobile Shareholders
|
25,994
|
|
9.7%
|
|
9,608
|
|
3.5%
|
|
35,602
|
|
13.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
0.02
|
|
|
|
0.01
|
|
|
|
0.03
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
0.21
|
|
|
|
0.08
|
|
|
|
0.29
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
0.03
|
|
|
|
0.01
|
|
|
|
0.04
|
|
|
|
|
Total Cheetah Mobile
shareholders' equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cheetah Mobile
Inc.
|
Reconciliation of
GAAP to Non-GAAP Results
|
(In '000, except for
per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Year Ended
December 31, 2014
|
|
GAAP
|
|
% of
Net
|
|
Share-based
|
|
% of
Net
|
|
Non-GAAP
|
|
% of
Net
|
|
Non-GAAP
|
|
Result
|
|
Revenues
|
|
Compensation
|
|
Revenues
|
|
Result
|
|
Revenues
|
|
Result
($)
|
Revenues
|
1,763,579
|
|
|
|
-
|
|
|
|
1,763,579
|
|
|
|
284,237
|
Cost of
revenues
|
(403,412)
|
|
22.9%
|
|
1,393
|
|
0.1%
|
|
(402,019)
|
|
22.8%
|
|
(64,794)
|
Gross
profit
|
1,360,167
|
|
77.1%
|
|
1,393
|
|
0.1%
|
|
1,361,560
|
|
77.2%
|
|
219,443
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
(436,840)
|
|
24.8%
|
|
51,176
|
|
2.9%
|
|
(385,664)
|
|
21.9%
|
|
(62,158)
|
Selling and
marketing
|
(580,610)
|
|
32.9%
|
|
7,407
|
|
0.4%
|
|
(573,203)
|
|
32.5%
|
|
(92,384)
|
General and
administrative
|
(260,047)
|
|
14.7%
|
|
113,298
|
|
6.4%
|
|
(146,749)
|
|
8.3%
|
|
(23,652)
|
Total operating
expenses
|
(1,277,497)
|
|
72.4%
|
|
171,881
|
|
9.7%
|
|
(1,105,616)
|
|
62.7%
|
|
(178,194)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
profit
|
82,670
|
|
4.7%
|
|
173,274
|
|
9.8%
|
|
255,944
|
|
14.5%
|
|
41,249
|
Net income
attributable to Cheetah Mobile Shareholders
|
67,941
|
|
3.9%
|
|
173,274
|
|
9.8%
|
|
241,215
|
|
13.7%
|
|
38,877
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
0.05
|
|
|
|
0.13
|
|
|
|
0.18
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
0.51
|
|
|
|
1.29
|
|
|
|
1.80
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
0.08
|
|
|
|
0.21
|
|
|
|
0.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Year Ended
December 31, 2013
|
|
|
|
GAAP
|
|
% of
Net
|
|
Share-based
|
|
% of
Net
|
|
Non-GAAP
|
|
% of
Net
|
|
Non-GAAP
|
|
Result
|
|
Revenues
|
|
Compensation
|
|
Revenues
|
|
Result
|
|
Revenues
|
|
Result
($)
|
Revenues
|
749,911
|
|
|
|
-
|
|
|
|
749,911
|
|
|
|
120,864
|
Cost of
revenues
|
(140,526)
|
|
18.7%
|
|
10
|
|
0.0%
|
|
(140,516)
|
|
18.7%
|
|
(22,647)
|
Gross
profit
|
609,385
|
|
81.3%
|
|
10
|
|
0.0%
|
|
609,395
|
|
81.3%
|
|
98,217
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
(217,846)
|
|
29.0%
|
|
14,520
|
|
1.9%
|
|
(203,326)
|
|
27.1%
|
|
(32,770)
|
Selling and
marketing
|
(201,504)
|
|
26.9%
|
|
2,835
|
|
0.4%
|
|
(198,669)
|
|
26.5%
|
|
(32,020)
|
General and
administrative
|
(97,817)
|
|
13.0%
|
|
20,031
|
|
2.7%
|
|
(77,786)
|
|
10.3%
|
|
(12,537)
|
Total operating
expenses
|
(517,167)
|
|
68.9%
|
|
37,386
|
|
5.0%
|
|
(479,781)
|
|
63.9%
|
|
(77,327)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
profit
|
92,218
|
|
12.4%
|
|
37,396
|
|
5.0%
|
|
129,614
|
|
17.4%
|
|
20,890
|
Net income
attributable to Cheetah Mobile Shareholders
|
62,018
|
|
8.3%
|
|
37,396
|
|
5.0%
|
|
99,414
|
|
13.3%
|
|
16,023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
0.05
|
|
|
|
0.03
|
|
|
|
0.08
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
0.54
|
|
|
|
0.33
|
|
|
|
0.87
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
0.09
|
|
|
|
0.05
|
|
|
|
0.14
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cheetah Mobile
Inc.
|
Revenues Generated
from PC-based and Mobile-based Applications and
Services
|
(In '000, except for
per share data)
|
|
|
|
|
|
|
For The Three
Months Ended
|
|
December 31,
2013
|
September 30,
2014
|
December 31,
2014
|
December 31,
2014
|
|
RMB
|
RMB
|
RMB
|
USD
|
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
PC
|
237,906
|
365,710
|
366,777
|
59,114
|
Mobile
|
31,273
|
112,968
|
222,111
|
35,798
|
Total
|
269,179
|
478,678
|
588,888
|
94,912
|
|
|
|
|
|
|
|
|
|
|
|
For The Year Ended
December 31,
|
|
|
2013
|
2014
|
2014
|
|
|
RMB
|
RMB
|
USD
|
|
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
|
PC
|
694,640
|
1,298,561
|
209,290
|
|
Mobile
|
55,271
|
465,018
|
74,947
|
|
Total
|
749,911
|
1,763,579
|
284,237
|
|
|
|
|
|
|
Cheetah Mobile
Inc.
|
(In '000, except for
per share data)
|
|
|
|
|
|
|
For The Three
Months Ended
|
|
December 31,
2013
|
September 30,
2014
|
December 31,
2014
|
December 31,
2014
|
|
RMB
|
RMB
|
RMB
|
USD
|
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
Domestic
revenues
|
263,410
|
424,452
|
449,819
|
72,498
|
Overseas
revenues
|
5,769
|
54,226
|
139,069
|
22,414
|
Total
|
269,179
|
478,678
|
588,888
|
94,912
|
|
|
|
|
|
|
|
|
|
|
|
For The Year Ended
December 31,
|
|
|
2013
|
2014
|
2014
|
|
|
RMB
|
RMB
|
USD
|
|
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
|
Domestic
revenues
|
739,412
|
1,541,699
|
248,476
|
|
Overseas
revenues
|
10,499
|
221,880
|
35,761
|
|
Total
|
749,911
|
1,763,579
|
284,237
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/cheetah-mobile-announces-fourth-quarter-and-fiscal-year-2014-unaudited-financial-results-300053589.html
SOURCE Cheetah Mobile, Inc.