Refile: China's Xunlei Q2 revenue rises on higher subscription demand
REFILE-China's Xunlei Q2 revenue rises on higher subscription demand Deletes extraneous word in headline
Overview
China distributed cloud services provider's Q2 revenue rose 39% yr/yr, driven by subscription and live-streaming
Non-GAAP net loss for Q2 was $2.1 mln, compared to net income a yr ago
Company announced new share repurchase program to reinforce market confidence
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
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
Company press release: ID:nGNX5sGMmj
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 |
|
Reuters Recommended Reads
Aug 11 - China's HUYA Q2 revenue rises as game services grow
Aug 12 - 17LIVE Group H1 net loss narrows on lower expenses
Aug 12 - LiveOne Inc Q1 revenue rises but misses estimates
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.)