Shulou(Shulou.com)11/24 Report--

On the afternoon of May 16, Thunderbolt released unaudited results for the first quarter ended March 31, 2023, making profits for five consecutive quarters. According to the financial report, total revenue in the first quarter of Xunlei was $99.2 million, up 25.5% from a year earlier, gross profit was $39.6 million, up 13.6% from a year earlier, and gross profit margin was 39.9%, compared with 44.1% in the same period last year. Among them, the increase in gross profit is due to the increase in gross profit of members, cloud computing and live streaming business. The decrease in gross profit margin is due to the increase in total revenue from the live broadcast business with low gross margin.

Based on US GAAP, net profit for the quarter was $1.2 million, compared with $5.4 million in the same period last year. Li Jinbo, chairman and CEO of Xunlei, said: "We achieved record revenue of US $99.2 million in the first quarter of 2023, an increase of 25.5% over the same period last year. In addition, we have maintained profit momentum for five consecutive quarters, and despite the fluctuations in the macro environment, the company's performance and innovation still have strong resilience and vitality."

Revenue from Xunlei Live and other Internet value-added services was $37.2 million in the quarter, up 58.4% from a year earlier. The increase in revenue is mainly due to the increased demand for live broadcast products and the enhanced liquidity of products. In addition, revenue from membership subscription services was $29.3 million in the quarter, up 15.8 per cent from a year earlier. As of March 31, 2023, the number of member users was about 4.84 million, compared with about 4.61 million in the same period last year.

The cloud computing business continued to rise, with revenue of $32.7 million in the first quarter, up 8.2 per cent from a year earlier. The growth of cloud computing revenue is mainly based on the increased demand for cloud computing services and the increase in cloud computing hardware sales.

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