Xunlei's Q2 2024 Unaudited Financial Report Continued Profits and Business Changes

On the afternoon of August 13, news came that Xunlei released its unaudited financial report for the second quarter ending June 30, 2024.

In the second quarter, Xunlei continued to make profits. The total revenue was 79.6 million US dollars, the net profit was 2.5 million US dollars, and the gross profit was 40.7 million US dollars. The gross profit margin rose from 44.0% in the same period last year to 51.1%.

Specifically, the total revenue of the company in this quarter decreased by 23.7% year-on-year, mainly due to the fact that since June 2023, Xunlei has actively reduced its domestic live voice broadcasting business, resulting in a reduction in live broadcasting business income.

In the second quarter, based on Generally Accepted Accounting Principles (GAAP), the net profit in this quarter was 2.5 million US dollars, while the net profit in the same period last year was 5 million US dollars. Based on Non-GAAP, the net profit in this quarter was 3.2 million US dollars, while the net profit in the same period last year was 8.4 million US dollars.

Mr. Li Jinbo, Chairman and CEO of Xunlei Group, said: In this quarter, our performance met expectations and continued to make profits. In the member business, we achieved a year-on-year growth of 10.8%, which was mainly due to our continuous efforts to optimize product functions and actively build user communities. At the same time,Xunlei Browser was launched on multiple application platforms, providing users with a more smooth video playback, web browsing and novel reading experience. We are very pleased to see that this product has received positive feedback from users.