VNET Reports Q2 Earnings Miss and Cautious Guidance Amid Revenue Growth
Shares of VNET Group, Inc. (NASDAQ:VNET) fell nearly 6% in pre-market trading after the company reported second-quarter results that missed analyst expectations for both earnings and revenue. The firm posted an adjusted loss per share of RMB0.06 compared to expected earnings of RMB1.58 per share. Revenue came in at RMB2.78 billion, slightly below forecasts but up 14.2% year on year. The wholesale data center segment drove growth with a revenue increase of 29.3%, reaching RMB1.10 billion and accounting for nearly 40% of total net revenue. VNET also reported strong adjusted EBITDA performance, which rose by 25.4% to RMB918.3 million. Despite maintaining its full-year revenue guidance between RMB11.5 billion and RMB11.8 billion, the midpoint fell slightly below analyst expectations, contributing to a cautious investor reaction.
Tickers: $VNET
Topics: adjusted EBITDA data centers revenue growth wholesale business