Xunlei’s Q2 revenue in fiscal year 2024 was US$79.6 million, a year-on-year decrease of 23.7%, and its net profit of US$2.5 million was halved year-on-year.

In the afternoon of August 13, Xunlei announced its unaudited financial report for the second quarter ended June 30, 2024. In the second quarter, Xunlei continued to be profitable, with total revenue of US$79.6 million, net profit of US$2.5 million, and gross profit of US$40.7 million. The gross profit margin increased to 51.1% compared with 44.0% in the same period last year. Specifically, the company's total revenue fell by 23.7% year-on-year in this quarter. This is mainly due to Xunlei's active reduction of domestic voice live broadcast business since June 2023, resulting in a decrease in live broadcast business revenue.

Second quarter,
Based on generally accepted accounting principles (GAAP),
net profit for the quarter was US$2.5 million,
net profit for the same period last year was US$5 million.
On a non-GAAP basis,
net income for the quarter was $3.2 million,
net income for the same period last year was $8.4 million.

Mr. Li Jinbo, Chairman and CEO of Xunlei Group, said:
“This quarter, our performance is in line with expectations and we continue to be profitable.
In terms of membership business, we achieved a year-on-year growth of 10.8%,
Mainly due to our continuous optimization of products functions and active efforts to build user communities.
At the same time, Xunlei Browser is launched on multiple application platforms,
providing users with a smoother video playback, web browsing and novel reading experience
We are very happy to see this product. Received positive feedback from users ”

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