Xunlei Downsizes its Domestic Live Streaming Business
SHENZHEN, China, May 22, 2023 (GLOBE NEWSWIRE) -- Xunlei Limited (“Xunlei” or the “Company”) (NASDAQ: XNET), a leading innovator of shared cloud computing and blockchain technology in China, today announced that it is taking proactive measures to adjust certain business operations. Particularly, the Company is downsizing its domestic audio live streaming operations due to lower gross margin of such business and the rapidly evolving and challenging industry environment.
As a result of this change, the Company expects that revenues from live streaming and other IVAS segment will be significantly reduced going forward. The Company will evaluate the impact of this initiative and provide an update on the second quarter revenue guidance in the near future.
Founded in 2003, Xunlei Limited (NASDAQ: XNET) is a leading innovator in shared cloud computing and blockchain technology in China. Xunlei provides a wide range of products and services across cloud acceleration, shared cloud computing, blockchain and digital entertainment to deliver an efficient, smart and safe internet experience.
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