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 provides distributed cloud services in China and reports developments across cloud acceleration, shared cloud computing and digital entertainment. Company updates frequently cover unaudited results, subscription revenue trends, cloud computing activity, live-streaming and other internet value-added services, and operating costs tied to revenue sharing and payment handling.
News also includes portfolio and corporate-structure actions, including the completed disposition of a majority equity interest in Shenzhen Onething, as well as annual Form 20-F filing announcements and earnings-call scheduling for the Nasdaq-listed company.
Xunlei Limited (Nasdaq: XNET) reported its second-quarter 2020 financial results, revealing total revenues of US$44.3 million, a decline of 8.3% from the previous quarter. Cloud computing and IVAS revenues were US$21.0 million, a 0.9% decrease, while subscription revenues fell to US$20.7 million, down 11.4%. The net loss widened to US$11.8 million from US$5.5 million in Q1. Gross profit decreased 14.5% to US$20.4 million, with a gross margin of 46.0%. The company anticipates third-quarter revenues between US$42 million and US$46 million.
Xunlei Limited (NASDAQ: XNET) has announced it will release its unaudited financial results for Q2 2020 on August 25, 2020, before the U.S. market opens. The earnings will be accessible on its investor relations page. Management will host a conference call at 8:00 a.m. ET the same day to discuss results and recent developments. Due to COVID-19, participants must preregister online. Access to the live audio webcast will also be available on their website.
Xunlei Limited (Nasdaq: XNET) announced a $20 million Share Buyback Program approved by its board of directors, aimed at enhancing shareholder value over the next 12 months. The buybacks may occur on the open market and will be funded from the company's cash reserves, which totaled approximately $255.7 million as of March 31, 2020. Chairman Jinbo Li expressed confidence in the company's financial outlook, indicating that this initiative reflects a strong commitment to shareholder returns.
Xunlei Limited (Nasdaq: XNET) announced its Q1 2020 financial results, reporting total revenues of US$48.3 million, a slight increase of 0.1% from the previous quarter. Cloud computing and IVAS revenues dipped 14.1% to US$21.2 million, while subscription revenues grew 18.1% to US$23.4 million. Gross profit surged 33.1% to US$23.8 million, yielding a gross margin of 49.3%. The net loss reduced to US$5.5 million from US$18.1 million in Q4 2019. Outlook for Q2 2020 anticipates revenues between US$42 million and US$47 million, reflecting a potential 7.9% decline.
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