Why Cheetah Mobile Stock Skyrocketed 30% Today
Shares of Cheetah Mobile (NYSE: CMCM) were up 30.3% as of 1 p.m. EDT Tuesday after the China-based mobile internet tools company announced mixed second-quarter 2019 results and a large special dividend.
More specifically on the former, Cheetah Mobile's quarterly revenue declined 12.1% year over year to 970.1 million yuan ($141.3 million), translating to adjusted earnings per American depositary share (ADS) of 0.52 yuan ($0.08). By comparison, most analysts were modeling higher adjusted earnings of $0.12 per share on lower revenue of $133.2 million.
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Source Fool.com
