Xunlei Q2 Net Income Declines; Total Revenues Up 33.3%

(RTTNews) - Xunlei Limited (XNET) reported net income of $5.0 million in the second quarter, compared with $6.0 million, prior year. Earnings per ADS was approximately $0.08, compared with $0.09. Non-GAAP net income was $8.4 million, compared with $9.8 million, last year.

Total revenues were $104.3 million, an increase of 33.3% year-over-year. The company said the increase in total revenues was mainly attributable to increased revenues generated from live streaming, subscription and cloud computing businesses.

Cloud computing revenues were $30.7 million, an increase of 8.2% year-over-year. Subscription revenues were $29.7 million, an increase of 17.0% year-over-year. Live streaming and other internet value-added services revenues were $43.9 million, an increase of 79.1% year-over-year.

For the third quarter of 2023, Xunlei expects total revenues to be between $79 million and $84 million, and the midpoint of the range represents a quarter-over-quarter decrease of approximately 21.9%.

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