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MarketScreener Homepage  >  Equities  >  Nyse  >  Cheetah Mobile Inc.    CMCM

CHEETAH MOBILE INC.

(CMCM)
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Cheetah Mobile : ADRs Drop After Google Disables Accounts

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02/21/2020 | 12:19pm EDT

By Robb M. Stewart

 

Cheetah Mobile Inc.'s American depositary receipts were down sharply Friday after it said Google had pulled accounts with the mobile Internet company.

Cheetah, which has been listed on the New York Stock Exchange since May 2014, was down 15% to $3.06.

The company said it had been informed by Google that Google Play Store, Google AdMob and Google AdManager accounts were disabled on Thursday and associated contracts will be terminated. In the first nine months of 2019, Cheetah Mobile generated about 23% of its revenue from Google, including from the mobile advertising business and the purchase and consumption of virtual items by users via Google as a channel.

Cheetah said that according to Google the decision was made because some of the company's apps hadn't been compliant with Google policies, resulting in certain invalid traffic.

It added it was in continuous communication with Google to appeal the decision, clarify any misunderstanding and adopt any requisite remedial measures to restore the disabled accounts but an appeals process could be time-consuming and there was no guarantee it will be successful.

 

Write to Robb M. Stewart at robb.stewart@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 8.28% 1183.19 Delayed Quote.-18.42%
CHEETAH MOBILE INC. 0.50% 2 Delayed Quote.-45.18%
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Financials (CNY)
Sales 2019 3 606 M
EBIT 2019 -301 M
Net income 2019 419 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 4,68x
P/E ratio 2020 11,4x
Capi. / Sales2019 0,56x
Capi. / Sales2020 0,62x
Capitalization 2 003 M
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Technical analysis trends CHEETAH MOBILE INC.
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Income Statement Evolution
Consensus
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Mean consensus UNDERPERFORM
Number of Analysts 4
Average target price 20,39  CNY
Last Close Price 14,38  CNY
Spread / Highest target 65,4%
Spread / Average Target 41,8%
Spread / Lowest Target 18,7%
EPS Revisions
Managers
NameTitle
Sheng Fu Chairman & Chief Executive Officer
Jin Tao Ren Chief Financial Officer
Jie Xiao Director & Senior Vice President
Tao Zou Director
Wei Dong Ji Independent Director
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