Welcome to our dedicated page for Xunlei news (Ticker: XNET), a resource for investors and traders seeking the latest updates and insights on Xunlei stock.
Xunlei Limited (symbol: XNET) is a leading acceleration product provider in China, renowned for its market share dominance as of December 2014. Leveraging advanced cloud computing technology, Xunlei operates a powerful internet platform that ensures users have quick and easy access to digital media content. The core products and services include the Xunlei Accelerator and cloud acceleration subscription services, which have significantly enhanced the user experience by providing swift and reliable network performance.
Xunlei is not just confined to traditional PCs; the company is making significant inroads into mobile devices, partly through pre-installed acceleration products on mobile phones. This expansion is further enhanced by extending services into living rooms via TV coverage. With a vast user base drawn by Xunlei Accelerator, the company has diversified its offerings to include value-added services such as Xunlei Kankan, online gaming, and pay-per-view options. This comprehensive suite of services caters to a wide range of digital media access and consumption needs.
Founded in 2003, Xunlei has grown into a digital content distribution network powerhouse in China, continuously enriching the internet applications available to Chinese netizens. The company's ongoing efforts in user acquisition and product improvement are evident from its recent financial performance. As of September 30, 2023, Xunlei recorded 5.02 million subscribers, up from 4.37 million the previous year. Subscription revenues also saw a significant increase, driven by a higher average revenue per subscriber and an increased number of subscribers opting for premium memberships.
Looking ahead, Xunlei estimates its total revenues for the fourth quarter of 2023 to be between US$70 million and US$75 million, reflecting a quarter-over-quarter decrease due to the downsizing of its domestic live streaming businesses. However, the company's subscription and cloud computing operations remain robust. For the first quarter of 2024, Xunlei projects total revenues between US$79 million and US$84 million, indicating a potential growth trajectory.
For the latest updates and more information on financial performance and upcoming events, visit Xunlei’s Investor Relations page.
Xunlei Limited (NASDAQ: XNET), a leader in shared cloud computing and blockchain technology in China, announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on April 28, 2022. The report is accessible via Xunlei's investor relations website or the SEC's site. Founded in 2003, Xunlei offers a variety of products and services aimed at enhancing internet efficiency, safety, and user experience.
Xunlei Limited (Nasdaq: XNET) announced a share repurchase plan of up to US$20 million to be executed within the next 12 months. The Board of Directors believes this reflects the company's financial strength and confidence in its operational outlook. Repurchases may occur through the open market or privately negotiated transactions, utilizing the company's cash reserves, which stood at approximately US$239 million as of December 31, 2021. Chairman Jinbo Li emphasized the company's intention to balance shareholder returns with future business growth.
Xunlei Limited (NASDAQ: XNET) reported its financial results for Q4 and FY 2021, showcasing total revenues of US$71.1 million for Q4, an 18.6% quarter-over-quarter increase, and US$239.6 million for the year, marking a 28.3% year-over-year growth. Cloud computing and IVAS revenues surged 52.7% year-over-year to US$136.2 million. Net loss reduced to US$0.5 million in Q4 from US$5.1 million in Q3, with a net income of US$1.1 million for the year. The company expects Q1 2022 revenues between US$77 million and US$80 million.
Xunlei Limited (NASDAQ: XNET) announced plans to release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2021, on March 17, 2022, before market open. The press release will be available on the Company's investor relations page. Subsequently, Xunlei's management will host a conference call at 8:00 a.m. ET on the same day to discuss the results and recent business developments. Participants must preregister for the call due to COVID-19 precautions. Details for the online registration and call access are provided.
Xunlei Limited (NASDAQ: XNET) has launched a new blockchain-based NFT service platform aimed at assisting enterprises in managing digital assets. The platform offers comprehensive NFT services, including design, minting, and showcasing, using Xunlei’s ThunderChain technology for unique identification and preservation of digital content. This initiative is expected to unlock new business opportunities for enterprises and enhance their marketing capabilities. Chairman and CEO Jinbo Li emphasized the company's commitment to adding value in the emerging NFT market.
Xunlei Limited (Nasdaq: XNET) reported third-quarter 2021 revenues of US$60 million, up 8.8% from the previous quarter. Cloud computing and other internet value-added services generated US$35.2 million, a 21.8% increase. However, subscription revenue fell 0.2% to US$22.7 million, and online advertising revenues plummeted 40.5% to US$2.1 million. The company posted a net loss of US$5.1 million, contrasting with net income of US$5.8 thousand in Q2 2021. Xunlei anticipates Q4 revenues between US$67 million and US$71 million, reflecting potential 15% growth.
Xunlei Limited (Nasdaq: XNET), a leader in shared cloud computing and blockchain technology, will announce its third quarter financial results for the period ending September 30, 2021, on November 11, 2021, before market opening. A management conference call will follow at 8:00 a.m. EST to discuss the results and business developments. Participants must preregister for the call due to COVID-19 restrictions. The earnings report and related information will be available on the company’s investor relations page.
Xunlei Limited (Nasdaq: XNET) reported its financial results for Q2 2021, with total revenues of US$55.2 million, up 3.6% from Q1. Cloud computing and internet services generated US$28.9 million (+5.8%), while subscription revenues reached US$22.7 million (+3.0%). However, online advertising revenues fell 8.7% to US$3.5 million. Gross profit stood at US$29.0 million with a gross margin of 52.5%. Net income decreased significantly to US$5.8 thousand from US$6.8 million in Q1. The company estimates Q3 revenues between US$54 million and US$58 million.
Xunlei Limited (NASDAQ: XNET), a leader in shared cloud computing and blockchain technology in China, will release its unaudited financial results for Q2 2021 on August 12, 2021, before market open. The results will be available on the investor relations page. Management will host a conference call at 8:00 a.m. ET to discuss the results and recent business developments. Participants must preregister online due to COVID-19 restrictions. The Company also plans to provide a live audio webcast of the call, with an archived version available shortly after its conclusion.
Xunlei Limited (Nasdaq: XNET) announced the resignation of Mr. Weimin Luo as Chief Operating Officer effective June 1, 2021, for personal reasons. Mr. Luo will continue to support the company as a strategy consultant. The CEO, Mr. Jinbo Li, expressed gratitude for Mr. Luo's contributions and wished him continued success. Founded in 2003, Xunlei is a leader in shared cloud computing and blockchain technology in China, providing various services aimed at enhancing internet efficiency.
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