China's Xunlei Q1 revenue rises 54% on live-streaming growth
China's Xunlei Q1 revenue rises 54% on live-streaming growth
Overview
China distributed cloud services firm's Q1 revenue rose 54% yr/yr, driven by live-streaming growth
Non-GAAP net income from continuing operations rose to $4.1 mln from $0.9 mln yr/yr
Company posted large GAAP net loss due to fair value changes in long-term investments
Outlook
Company says it will pursue new initiatives and emerging opportunities in coming quarters
Xunlei notes continued expansion in overseas audio live-streaming business
Company says it is focused on a user-centered, direct-to-consumer business model
Result Drivers
SUBSCRIPTION GROWTH - Subscription revenue increased 26% yr/yr
LIVE-STREAMING EXPANSION - Overseas audio live-streaming revenue rose 89% yr/yr, reflecting rapid expansion and localized operations
GROSS MARGIN PRESSURE - Gross margin declined due to a higher proportion of lower-margin live-streaming revenue
Company press release: ID:nGNX1Zb4MY
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue |
| $98.6 mln |
|
Q1 Adjusted Net Income |
| $4.1 mln |
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)