Xunlei’s Mixed Q3 Results: Revenue Down, Profit Margin Up

Xunlei (XNET) has released an update.

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.

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