(Yicai Global) Aug. 18 -- China’s Cheetah Mobile, a mobile app and video game developer, has posted a four-fold rise in second quarter net profit from the same period last year as it shifts its focus away from overseas markets to back home.

Beijing-based Cheetah reported net profit of CNY193.7 million (USD28 million) in the three months ended June 30, according to the unaudited financial report it released today. Revenue, though, was down almost 60 percent from a year ago to CNY394.2 million (USD56.9 million).

The firm’s coffers were boosted by the sale of its remaining stake in TikTok operator ByteDance, and also the increased number of its artificial intelligence-related robotics products in shopping malls, which now reach 7,000.

“Our second quarter revenue came in ahead of management’s expectations despite the unfavorable macro environment caused by the outbreak of Covid-19,” said Chairman and Chief Executive Officer Fu Sheng.

“Looking ahead, we will continue to focus on the domestic market and our AI-related business in shopping malls to build a new growth engine for Cheetah Mobile over the long run," he added.

The firm is expecting third quarter revenue of as much as CNY360 million (USD52 million).

Editor: Kim Taylor