Xunlei Limited, a leading innovator in shared cloud and blockchain technologies in China (“Xunlei”) (Nasdaq: XNET at https://www.webull.com/quote/nasdaq-xnet), today published unaudited financial reports for the fourth quarter and finished the financial year on 31 December 2020.
Financial highlights for the fourth quarter of 2020:
Total income amounted to $50.3 million, up 15.0 per cent from the last year. Cloud infrastructure and other internet value-added services sales, which mark 22.0% more than in the previous year, amounted to US$ 25.9million.Revenues from subscriptions totalled US$20.7 million, up 5.5 percent compared to the previous year.The mostly mobile advertisement sales online was $3.8 million, an up 27.6% from the previous quarter. The figure was USD 3.8 million.Brutal profit was US$26.8 million, an improvement in the fourth quarter of 18.3% and the brutal margin of 53.3%, compared with the last quarter of 51.9%.Net profits in the fourth quarter stood at US$4.6 million relative to a net loss in the previous quarter of US$1.5million.In contrast with a prior quarter loss of $0.02, the diluted i.
- Total sales was US$186.7 million, a rise of 3.0 percent from 2019. Fiscal Year Financial highlights: Cloud storage and other IVAS production amounted to US$89.2 million, up 6.0% from 2019. Subscription sales amounted to $84.3 million, up 3.4% from 2019.
- Revenues from online publicity amounted to US$13,2 million, down by 15,6 percent from 2019. The gross profit stood at US$93.7 million, up 16.1% from 2019, and the gross profit margin was 50.2% as opposed to 44.5% in the previous year.
- The net loss for fiscal year 2020 amounted to US$14.1 million relative to the net loss for 2019 of US$53.4 million.
- In 2020, the Advertising are diluted in the sum of US$0.21, relative to the previous year’s loss of US$0.79.
A good fourth quarter and completed one transformation year and success with a superior performance of our income guidance and profitability in one-quarter,” said Jinbo Li, Chairman and CEO of Xunlei. Jinbo Li. The effective implementation of our strategic orientation on our core competitiveness and organisational optimization delivers outstanding outcomes in both main financial and operational aspects.
In 2020 Nasdaq: XNETconcentrated on optimising our product capabilities to increase our customer interactions and productivity on a long-term basis. Especially with the rising and diversifying business customer base, we continued to extend our cloud computing capacities. We have also enhanced and investigated the uses of blockchain technologies by cooperating with institutions of higher learning and other organisations.
We look forward to a year of continuing growth and achievements in 2021 and foresee it. We look forward to the soon completion of our long-awaited Xunlei building and we will begin operational preparation immediately. You can find other stock like nasdaq fold at https://www.webull.com/quote/nasdaq-fold for trading.