Cheetah Mobile’s Transformation, The New Chapter Or The Last?

Monetization Cheetah Mobile’s (NYSE:CMCM) revenue in the second quarter was RMB1,047 million. The company easily beat the high end of its guidance of RMB1,000 million and analysts’ consensus of RMB985 million. In Q2, Cheetah Mobile made great improvement in monetization. It seems like the company now works better with its new partners than the previous ones. The proprietary mobile ad network has made tremendous progress. Beating revenue consensus with ease means the speed of monetization fix was actually faster than the market expected. We all know that fixing monetization takes time; in many cases, it may take a few quarters, especially when you need to build new business partnerships and create a new direct sales team. In Q1, the lack of monetization got Cheetah Mobile into deep trouble. Valuation of…

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