Xunlei Clocks 11% Sequential Revenue Growth In Q1

  • Xunlei Limited XNET reported first-quarter FY22 revenue growth of 11.1% quarter-on-quarter to $79 million, reflecting higher revenues from cloud computing, live streaming, and subscription businesses.
  • Segments: Cloud computing revenues increased 7% Q/Q to $30.2 million; Subscription revenues rose 7% Q/Q to $25.3 million; Live streaming and other internet value-added services grew 22.1% Q/Q to $23.5 million.
  • The gross margin contracted 260 bps Q/Q to 44.1% due to an increased portion of live streaming revenues to total revenues, which has a relatively lower gross profit margin. 
  • Non-GAAP earnings per ADS were $0.107.
  • Xunlei held $269.9 million in cash and equivalents.
  • Outlook: Xunlei sees Q2 revenue of $77 million - $82 million.
  • Price Action: XNET shares traded higher by 5.65% at $1.31 in the premarket on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksGuidanceTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!