Xunlei (XNET) has released an update.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Xunlei Limited reported a mixed financial performance for the third quarter of 2024, with total revenues dropping by 4.9% year-over-year to $80.1 million, primarily due to declines in cloud computing and live streaming revenues. Despite this, the company achieved a 15.6% increase in subscription revenue and maintained a stable net income of $4.4 million, thanks in part to increased subscriber numbers and reduced costs. The company’s gross profit margin improved to 50.8% from 44.6% a year earlier, reflecting a more profitable revenue mix.
For further insights into XNET stock, check out TipRanks’ Stock Analysis page.
