quick report of vote counts; election returns flash
Used in election contexts for early, provisional results announced as votes are being counted.
On election night, I watched the quick vote-count reports on TV.
開票 means the act of counting votes or opening ballot boxes; 開票速報 specifically refers to the quick report of those results.
速報 is a general term for breaking news or a flash report; 開票速報 narrows it to election vote-counting updates.
Compound of 開票 (vote counting) and 速報 (quick report).