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Cheetah Mobile Announces Third Quarter 2016 Unaudited Consolidated Financial Results

BEIJING, Nov. 21, 2016 /PRNewswire/ --Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that aims to provide leading applications to help make the internet and mobile experience smarter, speedier, and safer for users worldwide, today announced its unaudited consolidated financial results for the third quarter of 2016.

Third Quarter 2016 Financial Highlights

  • Total revenues increased by 9.7% year over year and 7.8% quarter over quarter to RMB1,128.3 million (US$169.2 million), slightly above the mid-point of the Company's guidance range. The quarter-over-quarter growth was driven by the steady and sustained revenue growth from the Company's utility apps.
  • Mobile revenues increased by 26.8% year over year and 16.3% quarter over quarter to RMB898.2 million (US$134.7 million). Mobile revenues accounted for 79.6% of total revenues.
  • Overseas revenues[1] increased by 28.9% year over year and 28.4% quarter over quarter to RMB719.9 million (US$108.0 million). Overseas revenues accounted for 63.8% of total revenues and 80.1% of mobile revenues.
  • Net income attributable to Cheetah Mobile shareholders was RMB0.4 million (US$0.07 million). Non-GAAP net income attributable to Cheetah Mobile shareholders was RMB72.4 million (US$10.9 million).

Third Quarter 2016 Key Operating Metrics

  • The number of mobile monthly active users ("Mobile MAUs") was 612 million in September 2016. The number of Mobile MAUs from overseas markets accounted for 80.3% of the total number of Mobile MAUs in September 2016.
  • The number of total global mobile user installations since the Company's inception has grown to 3,464 million as of September 30, 2016.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are delighted to report strengthening financial results for the third quarter of 2016. Driven by the solid performance of our utility apps, total revenues resumed its sequential growth and our mobile and overseas revenues have hit all-time record highs, and the Company returned...