Welcome!

News Feed Item

Cheetah Mobile Announces Fourth Quarter and Fiscal Year 2016 Unaudited Consolidated Financial Results

BEIJING, March 21, 2017 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform, today announced its unaudited consolidated financial results for the fourth quarter and fiscal year ended December 31, 2016.

Fourth Quarter 2016 Financial Highlights

  • Total revenues increased by 10.9% year over year and 13.0% quarter over quarter to RMB1,274.7 million (US$183.6 million).
  • ŸMobile revenues increased by 27.9% year over year and 15.0% quarter over quarter to RMB1,033.3 million (US$148.8 million). Mobile revenues accounted for 81.1% of total revenues.
  • ŸOverseas revenues[1] increased by 31.3% year over year and 15.7% quarter over quarter to RMB832.6 million (US$119.9 million). Overseas revenues accounted for 65.3% of total revenues.
  • Net income attributable to Cheetah Mobile shareholders was RMB58.8 million (US$8.5 million).  Non-GAAP net income attributable to Cheetah Mobile shareholders was RMB113.0 million (US$16.3 million).
  • Net cash generated by operating activities was RMB433.2 million (US$62.4 million).

Fourth Quarter 2016 Key Operating Metrics

  • ŸThe number of global mobile monthly active users ("Mobile MAUs") was 623 million in December 2016.  The number of Mobile MAUs from overseas markets accounted for 81.0% of the total number of Mobile MAUs in December 2016.
  • ŸThe number of total global mobile user installations since the Company's inception reached 3,810 million as of December 31, 2016.

Fiscal Year 2016 Financial Highlights

  • Total revenues increased by 21.0% year over year to RMB4,564.7 million (US$657.4 million).
  • Mobile revenues increased by 42.7% year over year to RMB3,530.4 million (US$508.5 million). Mobile revenues accounted for 77.3% of total revenues.
  • Overseas revenues increased by 42.1% year over year to RMB2,746.8 million (US$395.6 million). Overseas revenues accounted for 60.2% of total revenues.
  • Net loss attributable to Cheetah Mobile shareholders was RMB80.5 million (US$11.6 million). Non-GAAP net income attributable to Cheetah Mobile shareholders was RMB225.6 million (US$32.5 million).
  • Net cash generated by operating activities was RMB397.6 million (US$57.3 million).

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We ended 2016 on a solid note with revenues beating the high-end of our guidance.  We implemented a number of strategic initiatives in 2016, particularly in our content strategy, to counter the headwinds our business faced early in the year.  We are pleased that the steady and sustained revenue growth generated by our utility apps helped to continue to drive our revenue and profit growth sequentially in the second half of 2016.  As Cheetah's profit center, our mobile utility apps have continued to expand its profitability, which in turn supported our mobile content strategy.  Product-wise, we remained the third largest publisher of non-game mobile applications in Google Play Worldwide in February 2017, according to App Annie.  Two of our content-driven apps, Live.me and News Republic, demonstrated strong growth, particularly in the U.S. market.  According to App Annie, Live.me has become the No.1 grossing social application in the U.S. on Google Play since August 2016, and remains one of the top 5 social apps in the Apple App Store.  In addition, News Republic has been the No. 1 news app in the U.S on Google Play since December 2016.  As our mobile utility apps enter its mature growth stage, our investments in content-driven products established a solid foundation for another round of strong growth in the coming quarters.  Looking ahead, we remain focused on connecting our over 600 million global Mobile MAUs with more personalized and richer content by capitalizing on emerging artificial intelligence technologies."

Mr. Andy Yeung, Cheetah Mobile's Chief Financial Officer, commented, "We are pleased to have delivered solid financial results in the fourth quarter of 2016.  Driven by the steady and sustained revenue growth generated by our utility apps, our total revenues, mobile revenues and overseas revenues all hit record highs in the past quarter.  Additionally, we continued to improve our profitability sequentially in the fourth quarter of 2016 despite stepped-up investments in our content-driven applications.  Importantly, we again generated very strong free cash flow for both the fourth quarter and the full year of 2016.  These solid achievements demonstrated that we delivered results for the promises we set in the second quarter of 2016 to rejuvenate revenue growth and improve our financial condition.  Going forward, we remain focused on executing on our content strategy to establish a sustainable and profitable business model for the long term.  We are confident that by doing so, we will be well-positioned to achieve another round of strong growth and deliver additional value to all of our shareholders."

Fourth Quarter 2016 Consolidated Financial Results

REVENUES

Total revenues increased by 10.9% year over year and 13.0% quarter over quarter to RMB1,274.7 million (US$183.6 million) in the fourth quarter of 2016, which was primarily driven by the steady and sustained revenue growth from the Company's utility apps and the contribution from the Company's new content-driven apps, namely Live.me and News Republic. 

  • Revenues from online marketing services remained stable year over year and increased by 4.7% quarter over quarter to RMB1,033.1 million (US$148.8 million) in the fourth quarter of 2016.  Mobile advertising revenues represented approximately 84% of online marketing revenues in the quarter, as compared with approximately 74% in the prior year period and approximately 82% in the previous quarter.  The increase in mobile advertising revenues was driven by higher demand from advertisers and monetization of light causal games through in-game advertising.
  • Revenues from internet value added services ("IVAS") increased by 133.6% year over year and 88.9% quarter over quarter to RMB208.7 million (US$30.1 million) in the fourth quarter of 2016, which was primarily driven by the ramp-up in monetization of Live.me in overseas markets.
  • Revenues from internet security services and others increased by 36.4% year over year and 4.5% quarter over quarter to RMB32.9 million (US$4.7 million) in the fourth quarter of 2016.  The year-over-year increase was primarily driven by higher internet software licensing revenues. 

By platform, revenues generated from mobile business increased by 27.9% year over year and 15.0% quarter over quarter to RMB1,033.3 million (US$148.8 million) in the fourth quarter of 2016, which was primarily driven by increased popularity of the Company's mobile marketing services worldwide and the initial monetization of Live.me in overseas markets. 

By region, revenues generated from overseas markets increased by 31.3% year over year and 15.7% quarter over quarter to RMB832.6 million (US$119.9 million) in the fourth quarter of 2016, which was primarily driven by an improvement in overseas monetization.

COST OF REVENUES AND GROSS PROFIT

Cost of revenues increased by 57.3% year over year and 14.9% quarter over quarter to RMB464.2 million (US$66.9 million) in the fourth quarter of 2016, which was primarily driven by increased investments in content for the Company's content-driven apps, higher bandwidth and internet data center costs associated with increased user traffic worldwide, and data analytics.

Gross profit decreased by 5.1% year over year, but increased by 11.9% quarter over quarter to RMB810.5 million (US$116.7 million) in the fourth quarter of 2016.

OPERATING INCOME/LOSS AND EXPENSES

Total operating expenses decreased by 3.4% year over year and 1.3% quarter over quarter to RMB748.3 million (US$107.8 million) in the fourth quarter of 2016.  Total non-GAAP operating expenses increased by 3.0% year over year and 1.2% quarter over quarter to RMB694.9 million (US$100.1 million).

  • Research and development expenses increased by 11.9% year over year and decreased by 0.1% quarter over quarter to RMB235.4 million (US$33.9 million) in the fourth quarter of 2016.  The year-over-year increase was primarily driven by increased personnel costs associated with the Company's increased investments in big data analytics and new product development, particularly the development of new content-driven mobile applications and services.  The quarter-over-quarter decrease was primarily due to a decrease in share-based compensation expenses.  Non-GAAP research and development expenses, which exclude share-based compensation expenses, increased by 31.5% year over year and 6.5% quarter over quarter to RMB212.6 million (US$30.6 million).
  • Selling and marketing expenses decreased by 20.5% year over year, but increased by 4.2% quarter over quarter to RMB408.1 million (US$58.8 million) in the fourth quarter of 2016.  The year-over-year decrease was due to lower expenses on promotional activities as a result of the Company's strategy to implement cost control for its utility apps, which was partially offset by increased product promotional activities for the Company's content-driven apps and an increase in direct sales personnel headcount.  The quarter-over-quarter increase was primarily due to increased promotional activities for mobile products in the fourth quarter of 2016.  Non-GAAP selling and marketing expenses, which exclude share-based compensation expenses, decreased by 19.6% year over year, but increased by 6.0% quarter over quarter to RMB408.1 million (US$58.8 million).
  • General and administrative expenses increased by 28.6% year over year and decreased by 10.1% quarter over quarter to RMB126.8 million (US$18.3 million) in the fourth quarter of 2016.  The year-over-year increase was primarily driven by higher professional service fee and an increase in expenses associated with increased headcount for the general and administration function.  The quarter-over-quarter decrease was primarily driven by lower professional service fees.  Non-GAAP general and administrative expenses, which exclude share-based compensation expenses, increased by 81.7% year over year and decreased by 13.9% quarter over quarter to RMB96.2 million (US$13.9 million).

Operating profit was RMB62.2 million (US$9.0 million), as compared with an operating profit of RMB79.8 million in the prior year period and an operating loss of RMB33.8 million in the previous quarter.  The year-over-year decline in operating profit was mainly attributable to increased investments in content-driven apps.  The quarter-over-quarter improvement was due to higher total revenues in the quarter as well as the Company's improved efficiency and cost control measures. 

Non-GAAP operating profit decreased by 34.7% year over year, but increased by 205.4% quarter over quarter to RMB116.4 million (US$16.8 million) in the fourth quarter of 2016. 

Share-based compensation expenses decreased by 45.0% year over year and 24.7% quarter over quarter to RMB54.2 million (US$7.8 million) in the fourth quarter of 2016.  The decrease was mainly due to the change in the estimated forfeiture rates of share-based compensation.

OTHER EXPENSES

The Company recognized impairment losses of long-term investments of RMB45.9 million (US$6.6 million) in the fourth quarter of 2016, primarily driven by one-time non-cash write-downs of certain investment assets, which the Company considered other-than-temporary, to their fair value.  These write-downs were due to the underperformance and financial positions of the Company's investees.

OTHER INCOME, NET

Other income, net was RMB38.7 million (US$5.6 million) in the fourth quarter of 2016, which was primarily due to gains on disposal of certain investment assets in the fourth quarter of 2016.

NET INCOME ATTRIBUTABLE TO CHEETAH MOBILE SHAREHOLDERS

Net income attributable to Cheetah Mobile shareholders increased by 3.7% year over year and 13,107.9% quarter over quarter to RMB58.8 million (US$8.5 million) in the fourth quarter of 2016. 

Non-GAAP net income attributable to Cheetah Mobile shareholders decreased by 27.2% year over year, but increased by 56.1% quarter over quarter to RMB113.0 million (US$16.3 million).

NET INCOME PER ADS

Diluted income per ADS in the fourth quarter of 2016 was RMB0.41 (US$0.06), as compared with RMB0.40 in the prior year period and RMB0.00 in the previous quarter.

Non-GAAP diluted income per ADS in the fourth quarter of 2016 was RMB0.80 (US$0.12), as compared with RMB1.08 in the prior year period and RMB0.51 in the previous quarter.

ADJUSTED EBITDA

Adjusted EBITDA (Non-GAAP) decreased by 26.7% year over year, but increased by 98.1% quarter over quarter to RMB158.6 million (US$22.8 million) in the fourth quarter of 2016.

CASH AND CASH EQUIVALENTS, RESTRICTED CASH AND SHORT-TERM INVESTMENTS BALANCE

As of December 31, 2016, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB1,940.3 million (US$279.5 million). 

SHARES ISSUED AND OUTSTANDING

As of December 31, 2016, the Company had a total of 1,425,736,715 Class A and Class B ordinary shares issued and outstanding.  One ADS represents 10 Class A ordinary shares.

Fiscal Year 2016 Results

REVENUES

Total revenues increased by 21.0% year over year to RMB4,564.7 million (US$657.4 million) in 2016, which was primarily driven by the steady and sustained revenue growth from the Company's utility apps and the contribution from the Company's new content-driven apps. 

  • Revenues from online marketing services increased by 20.3% year over year to RMB3,950.9 million (US$569.0 million) in 2016.  Mobile advertising revenues represented approximately 80% of online marketing revenues in 2016, as compared with approximately 69% in 2015.  The increase in mobile advertising revenues was driven by higher demand from advertisers and monetization of light causal games through in-game advertising.
  • Revenues from internet value added services ("IVAS") increased by 26.7% year over year to RMB501.0 million (US$72.2 million) in 2016, which was primarily driven by the initial monetization of Live.me in overseas markets.
  • Revenues from internet security services and others increased by 18.5% year over year to RMB112.8 million (US$16.2 million) in 2016, which was primarily driven by higher   internet software licensing revenues.

By platform, revenues generated from mobile business increased by 42.7% year over year to RMB3,530.4 million (US$508.5 million) in 2016, which was primarily driven by increased popularity of the Company's mobile marketing services worldwide and the initial monetization of Live.me in overseas markets. 

By region, revenues generated from overseas markets increased by 42.1% year over year to RMB2,746.8 million (US$395.6 million) in 2016, which was primarily driven by an improvement in overseas monetization.

COST OF REVENUES AND GROSS PROFIT

Cost of revenues increased by 61.4% year over year to RMB1,543.8 million (US$222.4 million) in 2016, which was primarily driven by increased investments in content for the Company's content-driven apps, higher bandwidth and internet data center costs associated with increased user traffic worldwide, and data analytics.

Gross profit increased by 7.2% year over year to RMB3,020.8 million (US$435.1 million) in 2016.

OPERATING INCOME/LOSS AND EXPENSES

Total operating expenses increased by 16.6% year over year to RMB3,033.3 million (US$436.9 million) in 2016.  Total non-GAAP operating expenses increased by 19.3% year over year to RMB2,728.6 million (US$393.0 million).

  • Research and development expenses increased by 30.3% year over year to RMB905.9 million (US$130.5 million) in 2016, which was primarily driven by an increase in personnel-related costs associated with the Company's increased investments in big data analytics and new product development, particularly the development of new content-driven mobile applications and services.  Non-GAAP research and development expenses, which exclude share-based compensation expenses, increased by 37.2% year over year to RMB757.6 million (US$109.1 million).
  • Selling and marketing expenses increased by 9.6% year over year to RMB1,650.6 million (US$237.7 million) in 2016, primarily due to increased product promotional activities for the Company's content-driven apps, which was partially offset by reduced spending on product activities for utility apps.  Non-GAAP selling and marketing expenses, which exclude share-based compensation expenses, increased by 10.0% year over year to RMB1,636.8 million (US$235.7 million).
  • General and administrative expenses increased by 25.4% year over year to RMB561.8 million (US$80.9 million) in 2016, which was primarily driven by higher professional service fee and an increase in expenses associated with increased headcount for the general and administration function.  Non-GAAP general and administrative expenses, which exclude share-based compensation expenses, increased by 42.2% year over year to RMB419.2 million (US$60.4 million).

Operating loss was RMB12.4 million (US$1.8 million) in 2016, as compared with an operating income of RMB216.9 million in 2015.  This change was mainly attributable to increased investments in the Company's content-driven apps.   

Non-GAAP operating profit decreased by 44.9% year over year to RMB293.7 million (US$42.3 million) in 2016. 

Share-based compensation expenses decreased by 3.0% year over year to RMB306.1 million (US$44.1 million) in 2016.

NET INCOME/LOSS ATTRIBUTABLE TO CHEETAH MOBILE SHAREHOLDERS

Net loss attributable to Cheetah Mobile shareholders was RMB80.5 million (US$11.6 million) in 2016, as compared with a net income attributable to Cheetah Mobile shareholders of RMB176.3 million in 2015. 

Non-GAAP net income attributable to Cheetah Mobile shareholders decreased by 54.1% year over year to RMB225.6 million (US$32.5 million) in 2016. 

NET INCOME/LOSS PER ADS

Diluted loss per ADS in 2016 was RMB0.58 (US$0.08), as compared with diluted income per ADS of RMB1.24 in 2015.

Non-GAAP diluted income per ADS in 2016 was RMB1.59 (US$0.23), as compared with RMB3.45 in 2015.

ADJUSTED EBITDA

Adjusted EBITDA (Non-GAAP) decreased by 32.7% year over year to RMB457.1 million (US$65.8 million) in 2016.

Recent Development

Cheetah Mobile today announced that Mr. Ka Wai Andy Yeung has resigned as Chief Financial Officer of the Company, effective March 31, 2017, to pursue other opportunities.  Mr. Yeung has no disagreement with the Company that led to his resignation.  Pending the appointment of Mr. Yeung's successor, the Company's Board of Directors has appointed Mr. Yuk Keung Francis Ng, a director and the Chief Financial Officer of Kingsoft, as the interim Chief Financial Officer of the Company. Mr. Yeung will remain as an external advisor to the Company to facilitate a smooth transition.

Update on Share Repurchase Program

On March 16, 2016, the Company's Board of Directors authorized a share repurchase plan, pursuant to which the Company may repurchase its own issued and outstanding ADSs with an aggregate value of up to US$100 million from the open market, in negotiated transactions off the market, or through other legally permissible means in accordance with applicable securities laws from time to time within one year after March 16, 2016.  The share repurchase plan does not require the Company to acquire a specific number of ADSs.  During the one-year period, the Company repurchased a total of 2,536,808 ADSs, representing 25,368,080 Class A ordinary shares, at an average price of $10.7483 per ADS. The share repurchase program has expired on March 16, 2017.  

Business Outlook

For the first quarter of 2017, the Company expects its total revenues to be between RMB1,150 million (US$166 million) and RMB1,190 million (US$171 million), representing a year-over-year increase of 3% to 7% and quarter-over-quarter decrease of 7% to 10%.  This estimate represents management's preliminary view as of the date of this release, which is subject to change.

Conference Call Information

Company will hold a conference call on Monday, March 21, 2017 at 8:00 a.m. Eastern Time or 8:00 p.m. Beijing Time to discuss the financial results.  Listeners may access the call by dialing the following numbers:

International: 

+1-412-902-4272

United States Toll Free:

+1-888-346-8982

China Toll Free:  

4001-201203

Hong Kong Toll Free: 

800-905945

Conference ID:  

Cheetah Mobile

A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.cmcm.com/.

Exchange Rate

This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers.  Unless otherwise noted, all translations from Renminbi to U.S. dollars in this press release were made at a rate of RMB6.9430 to US$1.00, the exchange rate in effect as of December 31, 2016 as set forth in the H. 10 statistical release of the Federal Reserve Board.  Such translations should not be construed as representations that RMB amounts could be converted into U.S. dollars at that rate or any other rate, or to be the amounts that would have been reported under accounting principles generally accepted in the United States of America ("U.S. GAAP").

About Cheetah Mobile Inc.

Cheetah Mobile is a leading mobile internet company.  It aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform.

Cheetah Mobile's products, including its popular mission-critical utility applications Clean Master, CM Security and Battery Doctor, help make users' mobile internet experience smarter, speedier, and safer. The Company has attracted 623 million global Mobile MAUs as of December 2016, of which approximately 81% are located outside of China.  Leveraging the success of its mission-critical applications, Cheetah Mobile has launched its line of mobile content-driven applications, including News Republic and Live.me. 

Cheetah Mobile provides its advertising customers, which include direct advertisers and mobile advertising networks through which advertisers place their advertisements, with direct access to highly targeted mobile users and global promotional channels, which are capable of delivering targeted content to hundreds of millions of users.  

Safe Harbor Statement

This press release contains forward-looking statements.  These statements, including management quotes and business outlook, constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve inherent risks and uncertainties.  A number of factors could cause actual results to differ materially from those contained in the forward-looking statements, including but are not limited to the following: Cheetah Mobile's growth strategies; Cheetah Mobile's ability to retain and increase its user base and expand its product and service offerings; Cheetah Mobile's ability to monetize its platform; Cheetah Mobile's future business development, financial condition and results of operations; competition with companies in a number of industries including internet companies that provide online marketing services and internet value-added services; expected changes in Cheetah Mobile's revenues and certain cost or expense items; and general economic and business condition globally and in China.  Further information regarding these and other risks is included in Cheetah Mobile's filings with the U.S. Securities and Exchange Commission.  Cheetah Mobile does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Use of Non-GAAP Financial Measures

To supplement Cheetah Mobile's consolidated financial information presented in accordance with U.S. GAAP, Cheetah Mobile uses the following non-GAAP financial measures:

  • Non-GAAP operating expenses reflect operating expenses excluding share-based compensation expenses.
  • Non-GAAP operating profit reflects operating profit excluding share-based compensation expenses.
  • Non-GAAP net income attributable to Cheetah Mobile shareholders is net income attributable to Cheetah Mobile shareholders excluding share-based compensation expenses.
  • Non-GAAP diluted earnings (loss) per ADS is non-GAAP net income (loss) attributable to Cheetah Mobile shareholders divided by weighted average number of diluted ADSs.
  • Adjusted EBITDA is earnings before interest, taxes, depreciation, amortization, other non-operating income and share-based compensation expenses.

The Company believes that separate analysis and exclusion of share-based compensation expenses and the use of Adjusted EBITDA add clarity to the constituent parts of its performance from the cash perspective.  The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance.  It uses the non-GAAP financial measures for planning, forecasting and measuring results against the forecast.  The Company believes that non-GAAP financial measures are useful supplemental information for investors and analysts to assess its operating performance without the effect of share-based compensation expenses, which have been and will continue to be significant recurring expenses in its business.  However, the use of non-GAAP financial measures has material limitations as an analytical tool.  One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company's net income for the period.  In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies.  In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP.  For more information on these non-GAAP financial measures, please see the tables captioned "Cheetah Mobile Inc.  Reconciliations of GAAP and Non-GAAP Results" and "Cheetah Mobile Inc. Reconciliation of Net Income (Loss) Attributable to Cheetah Mobile Shareholders to Adjusted EBITDA (Non-GAAP)" at the end of this release.

Investor Relations Contact

Cheetah Mobile Inc.
Helen Jing Zhu
Tel: +86 10 6292 7779 ext. 1600
Email: [email protected]

ICR, Inc.
Jessie Fan
Tel: +1 (646) 417-5395
Email: [email protected]

[1] Overseas revenues refer to revenues generated by the Company's operating legal entities incorporated outside the People's Republic of China (excluding Hong Kong, Macau and Taiwan for the purposes of this press release), or the PRC.  Such revenues are primarily attributable to customers located outside the PRC.

CHEETAH MOBILE INC.

Condensed Consolidated Balance Sheets

(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$")



As of


31-Dec-15


31-Dec-16


31-Dec-16


 RMB 


RMB


USD


 (As adjusted)  (a)





ASSETS






Current assets:






Cash and cash equivalents

1,843,233


1,411,000


203,226

Restricted cash

156,161


167,751


24,161

Short-term investments

29,234


361,499


52,067

Accounts receivable

633,440


600,885


86,545

Prepayments and other current assets

360,004


571,306


82,285

Due from related parities

60,794


44,278


6,377

Deferred tax assets

5,101


15,527


2,236

Total current assets

3,087,967


3,172,246


456,897







Non-current assets:






Property and equipment, net

121,241


117,439


16,915

Intangible assets, net 

233,092


227,251


32,731

Goodwill

617,863


943,922


135,953

Investment in equity investees

124,708


100,063


14,412

Other long term investments

700,113


877,094


126,328

Deferred tax assets

12,843


74,809


10,775

Other non-current assets

28,724


28,310


4,077

Total non-current assets

1,838,584


2,368,888


341,191







Total assets

4,926,551


5,541,134


798,088







LIABILITIES AND SHAREHOLDERS' EQUITY












Current liabilities: 






Bank loans

130,273


379,544


54,666

Accounts payable

137,883


194,882


28,069

Accrued expenses and other current liabilities

1,308,717


1,359,106


195,752

Redemption right liabilities

474


652


94

Deferred revenue

56,070


48,661


7,009

Due to related parties

56,932


71,167


10,250

Income tax payable

29,822


19,403


2,795

Deferred tax liabilities

414


-


-

Total current liabilities

1,720,585


2,073,415


298,635







Non-current liabilities: 






Bank loans

10,523


118,797


17,110

Deferred revenue

8,166


6,001


864

Deferred tax liabilities

99,006


112,438


16,194

Other non-current liabilities

73,826


29,305


4,221

Total non-current liabilities

191,521


266,541


38,389







Total liabilities

1,912,106


2,339,956


337,024







Shareholders' equity:






Ordinary shares

226


230


33

Treasury stock

-


(178,991)


(25,780)

Additional paid-in capital

2,414,706


2,723,474


392,262

Retained earnings

317,818


237,293


34,177

Accumulated other comprehensive income

121,317


230,346


33,175

Total Cheetah Mobile shareholders' equity

2,854,067


3,012,352


433,867

Noncontrolling interests

160,378


188,826


27,197

Total equity

3,014,445


3,201,178


461,064







Total liabilities, noncontrolling interests and shareholders' equity

4,926,551


5,541,134


798,088







Note:






(a) The above condensed consolidated balance sheets have been prepared as if the Kingsoft Japan had been owned and operated by
Cheetah Mobile throughout the periods presented in accordance with ASC 805-50. Kingsoft Japan became a subsidiary of the
Company on January 29, 2016.

 

 

CHEETAH MOBILE INC.

Condensed Consolidated Statements of Comprehensive Income (Loss)

(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"), except for number of shares and per share(or ADS) data)



For The Three Months Ended


31-Dec-15


30-Sep-16


31-Dec-16


31-Dec-16


RMB


RMB


RMB


USD


 (As adjusted) (b)







Revenues

1,149,546


1,128,326


1,274,672


183,591

Online marketing services

1,036,091


986,379


1,033,103


148,798

Internet value-added services

89,337


110,452


208,670


30,055

Internet security services and others

24,118


31,495


32,899


4,738









Cost of revenues (a)

(295,110)


(403,900)


(464,197)


(66,858)

Gross profit

854,436


724,426


810,475


116,733









Operating income and expenses: 








Research and development (a)  

(210,415)


(235,541)


(235,355)


(33,898)

Selling and marketing (a) 

(513,368)


(391,496)


(408,097)


(58,778)

General and administrative (a) 

(98,611)


(141,168)


(126,846)


(18,270)

Impairment of goodwill and intangible assets

(12,525)


-


(539)


(78)

Other operating income

60,273


9,938


22,545


3,247

Total operating income and  expenses

(774,646)


(758,267)


(748,292)


(107,777)









Operating profit (loss)

79,790


(33,841)


62,183


8,956

Other income (expense):








Interest income, net

2,815


727


954


137

Changes in fair value of redemption right and put options granted

68


251


(57)


(8)

Settlement and changes in fair value of contingent consideration

9,098


981


(3,011)


(434)

Foreign exchange gain, net

1,470


1,672


2,951


425

Impairment of investments

(8,837)


-


(45,863)


(6,606)

Gains (losses) from equity method investments, net

4,390


(451)


2,889


416

Other (expense) income, net

(136)


30,949


38,705


5,575









Income before taxes

88,658


288


58,751


8,461

Income tax (expenses) benefits

(31,954)


7,873


9,278


1,336

Net income

56,704


8,161


68,029


9,797

Less: net income attributable to noncontrolling interests 

23


7,716


9,254


1,333

Net income attributable to Cheetah Mobile shareholders

56,681


445


58,775


8,464









Earnings per share








Basic 

0.04


0.00


0.04


0.01

Diluted 

0.04


0.00


0.04


0.01









Earnings per ADS








Basic 

0.41


0.00


0.42


0.06

Diluted 

0.40


0.00


0.41


0.06









Weighted average number of shares outstanding








Basic 

1,385,225,872


1,381,491,089


1,384,035,270


1,384,035,270

Diluted 

1,434,672,741


1,417,898,001


1,419,820,902


1,419,820,902

Weighted average number of ADSs used in computation








Basic 

138,522,587


138,149,109


138,403,527


138,403,527

Diluted 

143,467,274


141,789,800


141,982,090


141,982,090









Other comprehensive income (loss), net of tax of nil








Foreign currency translation adjustments

41,018


12,347


72,411


10,429

Unrealized gains on available-for-sale securities, net

3,219


-


415


60

Reclassification adjustments for gains included in net income

-


(21,666)


-


-

Other comprehensive income (loss)

44,237


(9,319)


72,826


10,489

Total comprehensive income (loss)

100,941


(1,158)


140,855


20,286

Less: Total comprehensive (loss) income attributable to
noncontrolling interests

(196)


8,522


6,941


1,000

Total comprehensive income (loss) attributable to
Cheetah Mobile shareholders

101,137


(9,680)


133,914


19,286









(a) Share-based compensation expenses








Cost of revenues

(1,623)


187


824


119

Research and development

48,740


35,956


22,716


3,272

Selling and marketing

5,725


6,352


34


5

General and administrative

45,652


29,449


30,627


4,411

Total

98,494


71,944


54,201


7,807









Notes:








(b) The above condensed consolidated statements of comprehensive income have been prepared as if the Kingsoft Japan had been owned and operated by
Cheetah Mobile throughout the periods presented in accordance with ASC 805-50. Kingsoft Japan became a subsidiary of the Company on January 29, 2016.

 

 

CHEETAH MOBILE INC.

Reconciliation of GAAP and Non-GAAP Results

(Unaudited, in '000, except for per share data and percentage)



For The Three Months Ended December 2016




GAAP


% of Net


Share-based 


% of Net


Non-GAAP


% of Net


Non-GAAP


Result


Revenues


Compensation


Revenues


Result


Revenues


Result ($)

Revenues

1,274,672




-




1,274,672




183,591

Cost of revenues

(464,197)


36.4%


824


0.1%


(463,373)


36.4%


(66,740)

Gross profit

810,475


63.6%


824


0.1%


811,299


63.6%


116,851















Research and development 

(235,355)


18.5%


22,716


1.8%


(212,639)


16.7%


(30,626)

Selling and marketing 

(408,097)


32.0%


34


0.0%


(408,063)


32.0%


(58,773)

General and administrative 

(126,846)


10.0%


30,627


2.4%


(96,219)


7.5%


(13,858)

Impairment of goodwill and intangible assets

(539)


0.0%


-


0.0%


(539)


0.0%


(78)

Other operating income

22,545


1.8%


-


0.0%


22,545


1.8%


3,247

Total operating income and expenses

(748,292)


58.7%


53,377


4.2%


(694,915)


54.5%


(100,088)















Operating profit 

62,183


4.9%


54,201


4.3%


116,384


9.1%


16,763

Net income attributable to Cheetah Mobile shareholders

58,775


4.6%


54,201


4.3%


112,976


8.9%


16,272















Diluted earnings per ordinary share (RMB)

0.04




0.04




0.08





Diluted earnings per ADS (RMB)

0.41




0.39




0.80





Diluted earnings per ADS (USD)

0.06




0.06




0.12




















For The Three Months Ended September 2016




GAAP


% of Net


Share-based 


% of Net


Non-GAAP


% of Net




Result


Revenues


Compensation


Revenues


Result


Revenues



Revenues

1,128,326




-




1,128,326





Cost of revenues

(403,900)


35.8%


187


0.0%


(403,713)


35.8%



Gross profit

724,426


64.2%


187


0.0%


724,613


64.2%

















Research and development 

(235,541)


20.9%


35,956


3.2%


(199,585)


17.7%



Selling and marketing 

(391,496)


34.7%


6,352


0.6%


(385,144)


34.1%



General and administrative 

(141,168)


12.5%


29,449


2.6%


(111,719)


9.9%



Impairment of goodwill and intangible assets

-


0.0%


-


0.0%


-


0.0%



Other operating income

9,938


0.9%


-


0.0%


9,938


0.9%



Total operating income and expenses

(758,267)


67.2%


71,757


6.4%


(686,510)


60.8%

















Operating (loss) profit

(33,841)


3.0%


71,944


6.4%


38,103


3.4%



Net income attributable to Cheetah Mobile shareholders

445


0.0%


71,944


6.4%


72,389


6.4%

















Diluted earnings per ordinary share (RMB)

0.00




0.05




0.05





Diluted earnings per ADS (RMB)

0.00




0.51




0.51




















For The Three Months Ended December 2015




GAAP


% of Net


Share-based 


% of Net


Non-GAAP


% of Net




Result


Revenues


Compensation


Revenues


Result


Revenues



Revenues

1,149,546








1,149,546





Cost of revenues

(295,110)


25.7%


(1,623)


0.1%


(296,733)


25.8%



Gross profit

854,436


74.3%


(1,623)


0.1%


852,813


74.2%

















Research and development 

(210,415)


18.3%


48,740


4.2%


(161,675)


14.1%



Selling and marketing 

(513,368)


44.7%


5,725


0.5%


(507,643)


44.2%



General and administrative 

(98,611)


8.6%


45,652


4.0%


(52,959)


4.6%



Impairment of goodwill and intangible assets

(12,525)


1.1%


-


-


(12,525)


1.1%



Other operating income

60,273


5.2%


-


-


60,273


5.2%



Total operating income and expenses

(774,646)


67.4%


100,117


8.7%


(674,529)


58.7%

















Operating profit

79,790


6.9%


98,494


8.6%


178,284


15.5%



Net income attributable to Cheetah Mobile Shareholders

56,681


4.9%


98,494


8.6%


155,175


13.5%

















Diluted earnings per ordinary share (RMB)

0.04




0.07




0.11





Diluted earnings per ADS (RMB)

0.40




0.68




1.08





 

 

CHEETAH MOBILE INC.

Condensed Consolidated Statements of Comprehensive Income (Loss)

(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"), except for number of
shares and per share (or ADS) data)



Year Ended December 31


2015

2016

2016


RMB

RMB

USD


 (As adjusted) (b)



Revenues

3,773,877

4,564,650

657,446

Online marketing services

3,283,423

3,950,886

569,045

Internet value-added services

395,312

500,991

72,158

Internet security services and others

95,142

112,773

16,243





Cost of revenues (a)

(956,353)

(1,543,817)

(222,356)

Gross profit

2,817,524

3,020,833

435,090





Operating income and expenses: 




Research and development (a)  

(695,185)

(905,854)

(130,470)

Selling and marketing (a) 

(1,505,951)

(1,650,581)

(237,733)

General and administrative (a) 

(447,984)

(561,834)

(80,921)

Impairment of goodwill and intangible assets

(49,882)

(2,889)

(416)

Other operating income

98,376

87,877

12,657

Total operating income and  expenses

(2,600,626)

(3,033,281)

(436,883)





Operating profit (loss)

216,898

(12,448)

(1,793)

Other income (expense):




Interest income, net

14,550

7,783

1,121

Changes in fair value of redemption right and put options granted

22

(94)

(14)

Settlement and changes in fair value of contingent consideration

7,011

(3,377)

(486)

Foreign exchange (loss) gain, net

(213)

3,747

540

Impairment of investments

(34,728)

(141,069)

(20,318)

Losses from equity method investments, net

(12,144)

(11,363)

(1,637)

Other income, net

46,981

87,925

12,664





Income (Loss) before taxes

238,377

(68,896)

(9,923)

Income tax (expenses) benefits

(63,740)

12,189

1,756

Net income (loss)

174,637

(56,707)

(8,167)

Less: net (loss) income attributable to noncontrolling interests 

(1,710)

23,818

3,431

Net income (loss) attributable to Cheetah Mobile
shareholders

176,347

(80,525)

(11,598)





Earnings (Losses) per share




Basic 

0.13

(0.06)

(0.01)

Diluted 

0.12

(0.06)

(0.01)





Earnings (Losses) per ADS




Basic 

1.28

(0.58)

(0.08)

Diluted 

1.24

(0.58)

(0.08)





Non-GAAP earnings per ADS




Basic 

3.58

1.63

0.23

Diluted 

3.45

1.59

0.23





Weighted average number of shares outstanding




Basic 

1,372,863,321

1,387,254,551

1,387,254,551

Diluted 

1,426,810,939

1,387,254,551

1,387,254,551

Diluted (non-GAAP)

1,426,810,939

1,423,086,096

1,423,086,096

Weighted average number of ADSs used in computation




Basic 

137,286,332

138,725,455

138,725,455

Diluted 

142,681,094

138,725,455

138,725,455

Diluted (non-GAAP)

142,681,094

142,308,610

142,308,610





Other comprehensive income (loss), net of tax of nil




Foreign currency translation adjustments

116,194

132,450

19,077

Unrealized gains on available-for-sale
securities, net

9,729

1,241

179

Reclassification adjustments for gains included in net
income (loss)

(6,814)

(21,666)

(3,121)

Other comprehensive income

119,109

112,025

16,135

Total comprehensive income

293,746

55,318

7,968

Less: Total comprehensive (loss) income attributable
to noncontrolling interests

(3,381)

26,814

3,862

Total comprehensive income attributable to Cheetah
Mobile shareholders

297,127

28,504

4,106





(a) Share-based compensation expenses




Cost of revenues

1,523

1,490

215

Research and development

142,777

148,211

21,347

Selling and marketing

18,206

13,830

1,992

General and administrative

153,234

142,618

20,541

Total

315,740

306,149

44,095





Notes:




(b) The above condensed consolidated statements of comprehensive income have been prepared as if the Kingsoft Japan had been
owned and operated by Cheetah Mobile throughout the periods presented in accordance with ASC 805-50. Kingsoft Japan became a
subsidiary of the Company on January 29, 2016.

 

 

CHEETAH MOBILE INC.

Reconciliation of GAAP and Non-GAAP Results

(Unaudited, in '000, except for per share data and percentage)



For The Year Ended December 31 2016




GAAP


% of Net


Share-based 


% of Net


Non-GAAP


% of Net


Non-GAAP


Result


Revenues


Compensation


Revenues


Result


Revenues


Result ($)

Revenues

4,564,650








4,564,650




657,446

Cost of revenues

(1,543,817)


33.8%


1,490


0.0%


(1,542,327)


33.8%


(222,141)

Gross profit

3,020,833


66.2%


1,490


0.0%


3,022,323


66.2%


435,305















Research and development 

(905,854)


19.8%


148,211


3.2%


(757,643)


16.6%


(109,123)

Selling and marketing 

(1,650,581)


36.2%


13,830


0.3%


(1,636,751)


35.9%


(235,741)

General and administrative 

(561,834)


12.3%


142,618


3.1%


(419,216)


9.2%


(60,380)

Impairment of goodwill and intangible assets

(2,889)


0.1%


-


0.0%


(2,889)


0.1%


(416)

Other operating income

87,877


1.9%


-


0.0%


87,877


1.9%


12,657

Total operating income and expenses

(3,033,281)


66.5%


304,659


6.7%


(2,728,622)


59.8%


(393,003)















Operating (loss) profit 

(12,448)


0.3%


306,149


6.7%


293,701


6.4%


42,302

Net (loss) income attributable to Cheetah Mobile shareholders

(80,525)


1.8%


306,149


6.7%


225,624


4.9%


32,497















Diluted (losses) earnings per ordinary share (RMB)

(0.06)




0.22




0.16





Diluted (losses) earnings per ADS (RMB)

(0.58)




2.17




1.59





Diluted (losses) earnings per ADS (USD)

(0.08)




0.31




0.23
















































For The Year Ended December 31 2015




GAAP


% of Net


Share-based 


% of Net


Non-GAAP


% of Net




Result


Revenues


Compensation


Revenues


Result


Revenues



Revenues

3,773,877








3,773,877





Cost of revenues

(956,353)


25.3%


1,523


0.0%


(954,830)


25.3%



Gross profit

2,817,524


74.7%


1,523


0.0%


2,819,047


74.7%

















Research and development 

(695,185)


18.4%


142,777


3.8%


(552,408)


14.6%



Selling and marketing 

(1,505,951)


39.9%


18,206


0.5%


(1,487,745)


39.4%



General and administrative 

(447,984)


11.9%


153,234


4.1%


(294,750)


7.8%



Impairment of goodwill and intangible assets

(49,882)


1.3%


-


0.0%


(49,882)


1.3%



Other operating income

98,376


2.6%


-


0.0%


98,376


2.6%



Total operating income and expenses

(2,600,626)


68.9%


314,217


8.3%


(2,286,409)


60.6%

















Operating profit

216,898


5.7%


315,740


8.4%


532,638


14.1%



Net income attributable to Cheetah Mobile shareholders

176,347


4.7%


315,740


8.4%


492,087


13.0%

















Diluted earnings per ordinary share (RMB)

0.12




0.22




0.34





Diluted earnings per ADS (RMB)

1.24




2.21




3.45





 

 

CHEETAH MOBILE INC.

Reconciliation from Net Income Attributable to Cheetah Mobile Shareholders to Adjusted EBITDA (Non-GAAP)

(Unaudited, in '000)



For The Three Months Ended


31-Dec-15

30-Sep-16

31-Dec-16

31-Dec-16


RMB

RMB

RMB

USD

Net income attributable to Cheetah Mobile shareholders

56,681

445

58,775

8,464

Add:





        Income tax expense (benefits)

31,954

(7,873)

(9,278)

(1,336)

        Interest income,net

(2,815)

(727)

(954)

(137)

        Depreciation and amortization

38,155

41,959

42,196

6,077

        Net income attributable to noncontrolling interests 

23

7,716

9,254

1,333

        Other non-operating (income) expense, net

(6,053)

(33,402)

4,386

632

        Share-based compensation 

98,494

71,944

54,201

7,807

Adjusted EBITDA

216,439

80,062

158,580

22,840

 

 

CHEETAH MOBILE INC.

Reconciliation from Net Income (Loss) Attributable to Cheetah Mobile Shareholders to Adjusted EBITDA (Non-GAAP)

(Unaudited, in '000)



For The Year Ended December 31


31-Dec-15

31-Dec-16

31-Dec-16


RMB

RMB

USD

Net income (loss) attributable to Cheetah Mobile shareholders

176,347

(80,525)

(11,598)

Add:




        Income tax expense (benefits)

63,740

(12,189)

(1,756)

        Interest income,net

(14,550)

(7,783)

(1,121)

        Depreciation and amortization

146,836

163,357

23,528

        Net (loss) income attributable to noncontrolling interests 

(1,710)

23,818

3,431

        Other non-operating (income) expense, net

(6,929)

64,231

9,251

        Share-based compensation 

315,740

306,149

44,095

Adjusted EBITDA

679,474

457,058

65,830

 

 

Cheetah Mobile Inc.

Revenues Generated from PC-based and Mobile-based Applications and Services

(Unaudited, in '000)



For The Three Months Ended


31-Dec-15

30-Sep-16

31-Dec-16

31-Dec-16


RMB

RMB

RMB

USD

PC

341,483

230,125

241,353

34,762

Mobile

808,063

898,201

1,033,319

148,829

Total

1,149,546

1,128,326

1,274,672

183,591

 

 

Cheetah Mobile Inc.

Revenues Generated from PC-based and Mobile-based Applications and Services

(Unaudited, in '000)



For The Year Ended December 31


31-Dec-15

31-Dec-16

31-Dec-16


RMB

RMB

USD

PC

1,299,459

1,034,205

148,956

Mobile

2,474,418

3,530,445

508,490

Total

3,773,877

4,564,650

657,446

 

 

Cheetah Mobile Inc.

Revenues Generated from Domestic and Overseas Markets

(Unaudited, in '000)



For The Three Months Ended


31-Dec-15

30-Sep-16

31-Dec-16

31-Dec-16


RMB

RMB

RMB

USD

Domestic

515,671

408,440

442,089

63,674

Overseas

633,875

719,886

832,583

119,917

Total

1,149,546

1,128,326

1,274,672

183,591

 

 

Cheetah Mobile Inc.

Revenues Generated from Domestic and Overseas Markets

(Unaudited, in '000)



For The Year Ended December 31


31-Dec-15

31-Dec-16

31-Dec-16


RMB

RMB

USD

Domestic revenues

1,840,289

1,817,874

261,828

Overseas revenues

1,933,588

2,746,776

395,618

Total

3,773,877

4,564,650

657,446

 

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cheetah-mobile-announces-fourth-quarter-and-fiscal-year-2016-unaudited-consolidated-financial-results-300426847.html

SOURCE Cheetah Mobile

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
VeriStor Systems has announced that CRN has named VeriStor to its 2017 Managed Service Provider (MSP) 500 list in the Elite 150 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed services. Their offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. In today’s fast-paced business environments, MSPs play an important role...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
FinTech is the sum of financial and technology, and it’s one of the fastest growing tech industries. Total global investments in FinTech almost reached $50 billion last year, but there is still a great deal of confusion over what it is and what it means – especially as it applies to retirement. Building financial startups is not simple, but with the right team, technology and an innovative approach it can be an extremely interesting domain to disrupt. FinTech heralds a financial revolution that...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...