What happened Shares of Kingsoft Cloud (NASDAQ: KC) fell as much as 14% today after the company reported third-quarter earnings. The results were mixed relative to analyst expectations, and guidance came in a little light. As of 12:10 p.m. EST, the stock was down 10%. So what Revenue in the third quarter was 1.7 billion yuan ($254.6 million), which was shy of the $261.7 million in sales that Wall Street was looking for. That resulted in an adjusted net loss of 169.1 million yuan ($24.9 million), or 0.03 yuan ($0.00) per share. Analysts were modeling for $0.16 per share in red ink. The Chinese technology company, which provides cloud services to enterprise organizations, reported adjusted EBITDA of negative $3.9 million. Image source: Getty Images. "While we experienced strong demand from many existing clients, we also saw the resumption of a number of enterprise cloud projects that had been delayed due to COVID-19," CEO Yulin Wang said in a statement. "In light of the ongoing digital transformation trends and the increasingly rapid roll out of enterprise cloud projects across the country, we will continue to invest in technology and expand our reach into select industries so that we can take advantage of the numerous growth opportunities around cloud computing that lie ahead." Now what Kingsoft's outlook for the fourth quarter left a little to be desired. Revenue is forecast in the range of 1.88 billion yuan to 1.95 billion yuan ($286.6 million to $297.2 million), compared to the consensus estimate of 1.98 billion yuan ($301.8 million). 10 stocks we like better than Kingsoft Cloud Holdings LimitedWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Kingsoft Cloud Holdings Limited wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source