Xunlei, a cloud computing and blockchain enterprise, has released its Q2 financial report, revealing a 33.3-percent year-on-year revenue increase to US$104 million (760 million yuan).
Gross profit for the quarter was US$45.9 million, up 35.9 percent, with a gross margin of 44 percent. GAAP net profit stood at US$5 million, compared to US$6 million in the same period last year. Using Non-GAAP, net profit reached US$8.4 million, down from US$9.8 million last year due to decreased non-operating income.
Among the business segments, the membership division experienced a 17.0-percent revenue increase to US$29.7 million, driven by higher average revenue per user and increased membership. Cloud computing revenue grew 8.2 percent to US$30.7 million, attributed to rising demand for cloud services and hardware sales. Revenue from live streaming and other value-added services surged by 79.1 percent to US$43.9 million.
LI Jinbo, Xunlei’s CEO, plans to adjust live-streaming operations in the second half of the year and projects Q3 revenue around US$80 million, down by about a fifth.
