Kingdee International Software Narrows Loss in 2021 on Higher Revenue From Cloud Business; Shares Surge 11%

MT Newswires · {{timeTz}}

03:50 AM EDT, 03/17/2022 (MT Newswires) -- Kingdee International Software Group (HKG:0268) narrowed its loss to 0.0923 yuan ($0.015) per diluted share in 2021 from 0.1012 yuan a year prior.

Analysts polled by Visible Alpha expected a loss of 0.099 yuan per diluted share.

Loss attributable to owners of the company for the reported period shrank to 302.3 million yuan year over year from 335.5 million yuan, helped by a jump in revenue from its cloud services business, according to a late Wednesday filing.

Revenue advanced 24.4% year over year to 4.17 billion yuan, with turnover from its cloud services business up 44.2%.

Analysts polled by Visible Alpha expected revenue of 4.28 billion yuan.

Shares of the software company surged nearly 11% in mid-afternoon trade Thursday.

Price (HKD): $17.18, Change: $+1.56, Percent Change: +9.99%

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