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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Xunlei
Xunlei (XNET) investor relations material
Xunlei Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
Q3 revenue rose 12.9% YoY to $101.3M; growth moderated amid competition and strategic adjustments in core consumer businesses.
Subscription and live-streaming services grew, while higher operating costs, lower gross margin, and investment fair-value losses weighed on results.
Financial highlights
Gross profit increased 1.6% YoY to $56.5M; gross margin was 55.7%, down from 62.0%, as lower-margin live-streaming revenue made up a larger share.
Operating loss was $14.8M versus operating income of $3.3M in Q3 2025; operating expenses rose to $71.2M from $52.3M.
Continuing-operations net loss was $235.8M versus net income of $550.4M; non-GAAP net loss was $16.4M versus non-GAAP net income of $5.6M.
Other losses, net were $219.2M versus other income of $547.5M, mainly from fair-value changes in the Arashi Vision investment.
Segment performance
Subscription revenue rose 8.5% YoY to $44.1M, mainly on increased demand for subscription services.
Live-streaming and other services revenue increased 16.6% YoY to $57.2M, driven mainly by overseas audio live streaming and Hupu advertising.
Overseas audio live-streaming revenue-sharing expenses grew faster than segment revenue amid stronger competition and rising user acquisition costs.
Hupu advertising benefited from World Cup-related traffic and engagement; additional offerings are being explored to reduce event-driven volatility.
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Latest events from Xunlei
- Revenue up 38.9% year-over-year, but net loss of $218.5M due to investment volatility.XNET
Q2 2026 - Revenue surged 54.1% year-over-year, driven by live streaming and subscriptions, despite a large net loss.XNETQ1 2026
- Q4 revenue up 70% YoY, but net loss widened on investment revaluation; full-year net income soared.XNETQ4 2025
- Net income surged to $550.1M on 57.7% revenue growth and a $545.8M investment gain.XNETQ3 2025
- Net income jumped to $727.4M, driven by a $720M gain from an investee's IPO.XNETQ2 2025
- Profitability maintained in Q3 2024 as subscription growth offsets revenue declines.XNETQ3 2024
- Subscription growth and improved margins offset live streaming declines; Q3 revenue guided higher.XNETQ2 2024
- Q4 revenue rose 9.3% with record subscribers, but goodwill impairment drove a net loss.XNETQ4 2024
- Revenue up 10.5% to $88.8M, but net loss of $0.9M; Q2 guidance: $91–$96M.XNETQ1 2025
Next Xunlei earnings date
Q4 202612 Mar, 2027
Xunlei
Next Xunlei earnings date
Q4 202612 Mar, 2027
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Frequently asked questions
Xunlei Limited is a Chinese technology company that primarily provides cloud acceleration, blockchain, and distributed computing services. The company's core business revolves around its cloud-based subscription services, which enhance internet speed and efficiency by optimizing data transmission. Xunlei is also involved in blockchain technology, offering decentralized storage and computing solutions through its blockchain ecosystem. Additionally, the company provides online advertising services and leverages its technology to offer digital entertainment products, such as online games and video streaming services. The company is headquartered in Shenzhen, China, and its shares are listed on the NASDAQ.