Key Highlights

  • Kingsoft Cloud (NASDAQ:KC) quoted USD 8.73, up 7.78%, in premarket trading on November 5, 2026, per the premarket quote.
  • Third-quarter 2026 results are scheduled before the U.S. market opens on November 24, 2026, with a call at 7:30 a.m. ET.
  • Second-quarter Revenue was RMB 3,072.0 million, up 30.8% year over year and 13.6% from the first quarter, with a record top line.
  • AI cloud gross billings reached RMB 1,327 million, up 82% year over year, and adjusted EBITDA was RMB 1,100.5 million, a 35.8% margin.

Earnings Date Sets the Stage

Kingsoft Cloud Holdings (NASDAQ:KC) said it will release unaudited third-quarter 2026 results before the U.S. market opens on Tuesday, November 24, 2026, followed by an Earnings call at 7:30 a.m. ET, which is 8:30 p.m. in Beijing and Hong Kong. The announcement leaves the stock trading on expectations, and the premarket quote on November 5, 2026 shows a gain of 7.78% to USD 8.73. This is a preview, since the quarter has not yet been reported. The most recent filed numbers are for the second quarter ended June 30, 2026, reported ahead of a call on August 19, 2026. The comparison base for the coming report is third-quarter 2025 revenue of RMB 2,478.0 million, reported on November 19, 2025.

Second-Quarter Numbers and Management Tone

Second-quarter revenue was RMB 3,072.0 million, up 30.8% from RMB 2,349.2 million a year earlier and up 13.6% from RMB 2,703.7 million in the first quarter. Public cloud services grew 45.1% to RMB 2,357.6 million, while enterprise cloud services slipped 1.3% to RMB 714.3 million. AI cloud gross billings were RMB 1,327 million, up 82% and equal to 56% of public cloud revenue, according to Chief Executive Officer Tao Zou. Gross Profit was RMB 466.2 million, a 15.2% margin, and adjusted operating profit was RMB 124.0 million. Adjusted EBITDA was RMB 1,100.5 million, though that includes a RMB 35.0 million gain on a property disposal; excluding it the figure was RMB 1,065.4 million. The net loss was RMB 93.0 million and the adjusted net loss was RMB 59.8 million. Zou called it a quarter of both strong growth and profitability, and Chief Financial Officer Yi Li pointed to record revenue.

Capital Intensity, Risks and What to Watch

The growth is Capital intensive. Chief Financial Officer Yi Li said capital expenditures were RMB 3.3 billion in the second quarter, including Assets acquired through leasing, against cash and equivalents of RMB 4,674.3 million, or about USD 688.9 million, at June 30, 2026. Heavy spending on graphics processors and data centers lifts depreciation, which is why adjusted EBITDA is far larger than operating profit, and it keeps GAAP results in the red. The company serves a large share of its revenue through the Xiaomi and Kingsoft ecosystem, so customer concentration is a risk, and the second-quarter release carried no explicit guidance figures in the content reviewed. The premarket gain also reflects early trading and can narrow. Investors will watch whether third-quarter revenue growth stays above 30%, whether AI billings keep compounding and whether losses narrow.

Where Things Stand

Kingsoft Cloud (NASDAQ:KC) can extend a 7.78% premarket jump only if the November 24, 2026 results confirm that AI Demand is still lifting revenue faster than costs. The latest filed quarter supports the growth story, with revenue up 30.8%, AI billings up 82% and positive adjusted EBITDA, but GAAP losses and heavy capital spending remain. A move quoted in premarket trading is not a closing level and can fade. The next catalyst is the earnings release at the U.S. market open and the call at 7:30 a.m. ET on November 24, 2026.