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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 8.33% to $0.11 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Rose 27.13% to $67.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: 21Vianet Group Inc reported adjusted EPS income of $0.11 per share. By that measure, the company missed the mean analyst estimate of $0.13. It beat the average revenue estimate of $67.05 million.
Quoting Management: Mr. Josh Chen, Founder, Chairman and Chief Executive Officer of the Company, stated, “We are extremely pleased with our achievements for 2012 which proved to be a pivotal year for 21Vianet. We significantly expanded the scale of our business, delivering growth of almost 50% in revenues. Moreover, we focused on making significant upgrades to our network backbone, to support our growth in data transmissions for 2013. These improvements have greatly increased the efficiency and speed of our network and further strengthen the foundation for our future growth.”
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