Cheetah Mobile Inc. Provides Earnings Guidance for the First Quarter of 2020; Reports Impairment of Goodwill for the Fourth Quarter Ended December 31, 2019
March 26, 2020 at 06:15 am
Cheetah Mobile Inc. provided earnings guidance for the first quarter of 2020. For the first quarter of 2020, the Company expects its total revenues to be between RMB 490 million (USD 70 million) and RMB 540 million (USD 78 million). This amount has reflected the fact that LiveMe's revenues will no longer be included in the Company's revenues. The above outlook is based on the current market conditions and reflects the Company's preliminary estimates, which are all subject to change, particularly in light of the uncertainties related to how COVID-19 develops.
For the quarter, the company reported impairment of goodwill of RMB 545.665 million.