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Press Release: Xunlei Announces Unaudited Financial Results for the Fourth Quarter and the Fiscal Year Ended December 31, 2017

SHENZHEN, China, March 15, 2018 (GLOBE NEWSWIRE) -- Xunlei Limited (“Xunlei” or the “Company”) (Nasdaq:XNET), a leading cloud-based acceleration technology company in China, today announced its unaudited financial results for the fourth quarter and the fiscal year ended December 31, 2017.

Fourth Quarter 2017 Financial Highlights:

  • Total revenues were US$82.4 million, an 128.5% increase from the corresponding period of last year and up 83.9% from the previous quarter.
  • Online advertising revenues (revenues primarily from mobile advertising) were US$7.8 million, a 70.6% increase from the corresponding period of last year and a 36.0% increase from the previous quarter.
  • Other internet value-added services (“IVAS”) revenues were US$51.9 million, a 431.6% increase from the corresponding period of last year and a 184.1% increase from the previous quarter. IVAS consists of cloud computing and services other than subscription and advertising. 
  • Net income from continuing operations was US$3.0 million in the fourth quarter of 2017, compared with net loss of US$26.8 million in the previous quarter. The net loss in the previous quarter included impairment of assets in the amount of $13.6 million.             

Fiscal Year Ended December, 31 2017 Financial Highlights:

  • Total revenues were US$201.9 million, a 43.2% increase from 2016.
  • Online advertising revenues (revenues primarily from mobile advertising) were US$22.5 million, a 33.2% increase from 2016.
  • Other internet value-added services (“IVAS”) revenues were US$94.5 million, a 178.3% increase from 2016. IVAS consists of cloud computing and services other than subscription and advertising. 
  • Net loss from continuing operations was US$44.2 million for fiscal year 2017, compared with net loss of US$30.8 million for 2016.  The net loss for 2017 included impairment of assets in the amount of $13.6 million.          

Recent and Fiscal Year Developments:

  • Exp...


Posted: 2018-03-15 00:00:00

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