Xunlei’s shares rose 9.6% following Q1 results, driven by better-than-expected revenue growth fueled by strong subscription and overseas live streaming businesses.
- Total revenue surged 54.1% year-over-year to $98.6 million, reflecting strong demand in core consumer-facing segments.
- Subscription revenue increased 26.2% year-over-year to $45 million, supported by product enhancements and expanded partnerships.
- Overseas audio live streaming revenue nearly doubled, up 89.3% year-over-year to $53.6 million, driven by growth in emerging markets like Southeast Asia and the Middle East.
- Gross margin declined to 58.5% from 61.9% a year ago, reflecting a higher mix of lower-margin live streaming revenue and increased revenue sharing expenses.
- Corporate restructuring excluded cloud computing business from results, sharpening focus on consumer operations.
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