- Xunlei Ltd (NASDAQ:XNET) reported fourth-quarter FY21 revenue growth of 18.6% quarter-on-quarter to $71.1 million, reflecting higher revenues from cloud computing and live streaming businesses.
- Segments: Cloud computing and other internet value-added services revenues increased 26.9% Q/Q to $44.7 million; Subscription revenues rose 4.3% Q/Q to $23.7 million; Online advertising revenues rose 33.1% Q/Q to $2.8 million.
- The gross margin contracted 220 bps Q/Q to 46.7% due to decreased revenue portion of the subscription revenues, which had a higher gross margin.
- Loss per ADS was $(0.01) versus $(0.08) previous quarter.
- Xunlei held $239 million in cash and equivalents.
- Chair and CEO Jinbo Li stated, "Particularly, we saw strong growth in shared cloud computing and other IVAS, which realized a year-over-year growth of 52.7%, driven by customer demand and bandwidth capacity expansion."
- Outlook: Xunlei sees Q1 FY22 revenue of $77 million - $80 million.
- Price Action: XNET shares traded lower by 5.66% at $1.50 on the last check Thursday.
