China's Xunlei Q2 revenue rises on higher subscription demand
XNET•Outlook
- Company says it will continue to focus on user-centric development and international expansion
- Xunlei plans to pursue disciplined capital management to support balanced and sustainable growth
- Company expects strategic initiatives to deliver lasting value amid evolving market dynamics
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | $102.70 mln | ||
| Q2 Adjusted Income Per ADS | -$0.03 | ||
| Q2 Adjusted Net Loss from continuing operations | $2.10 mln |
Result drivers
- Subscription demand - Co said revenue growth was mainly driven by increased demand for its subscription services
- Overseas live-streaming - Growth in overseas audio live-streaming and Hupu advertising boosted live-streaming and other services revenue
- Gross margin pressure - Gross margin declined due to higher proportion of lower-margin live-streaming revenue
Quarterly results
- China distributed cloud services provider's Q2 revenue rose 39% yr/yr, driven by subscription and live-streaming
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