21Vianet Group Earnings: Everything You Must Know Now
21Vianet Group Inc (NASDAQ:VNET) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
21Vianet Group Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 33.33% to $0.08 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Rose 27.8% to $70.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: 21Vianet Group Inc reported adjusted EPS income of $0.08 per share. By that measure, the company missed the mean analyst estimate of $0.12. It beat the average revenue estimate of $70.03 million.
Quoting Management: Mr. Josh Chen, Founder, Chairman and Chief Executive Officer of the Company, stated, “Following a year that focused on expanding our capacity to meet customer demand, we have become focused on improving utilization as well as further building out our infrastructure to support strong customer demand as well as our upcoming launch of cloud services with Microsoft. With our growing business scale, the increasing mix of higher margin self-built facilities, as well as the ramp-up in cloud services later this year with Microsoft, we continue to see significant opportunities for revenue acceleration and continued growth in the coming quarters.”
Key Stats (on next page)…