Xunlei: BitTorrent client falls on disappointing Q1 outlook
07/03/2019 11:55
** Shares of China's peer-to-peer file sharing software
maker XNET.O down ~5 pct at $4.41 in premarket after posting
Q4 results
** XNET Q4 revenue nearly halves to $42.3 mln from an year
ago, hurt by fall in advertising and subscription sales
** Sees Q1 revenues between $39 mln and $43 mln - midpoint
represents a 3 pct drop from the previous quarter
** CEO expects continued growth in shared cloud computing
business in 2019, despite "headwinds in the macroeconomic
environment"
** XNET, whose software is popular for supporting file
sharing through BitTorrent, formed partnerships to develop
blockchain and connected devices apps
** However, shares fall ~84 pct from their peak in Nov. 2017
as the cryptocurrency boom evaporates
** Up to Wednesday's close, stock up ~37 pct YTD
(Reporting by Sonam Rai in Bengaluru)