VNET Group (VNET) Misses Q2 EPS by 3c, provides outlook

VNET Group (NASDAQ: VNET) reported Q2 EPS of RMB0.04, RMB0.03 worse than the analyst estimate of RMB0.07. Revenue for the quarter came in at RMB1.99 billion versus the consensus estimate of RMB1.93 billion.

Business Outlook

The Company expects total net revenues for 2024 to be between RMB7,800 million to RMB8,000 million, versus the consensus of RMB 7,884 million, representing year-over-year growth of 5.2% to 7.9%, and adjusted EBITDA (non-GAAP) to be in the range of RMB2,220 million to RMB2,280 million, representing year-over-year growth of 8.9% to 11.8%. The above outlook remains unchanged from the previously provided estimates.

For earnings history and earnings-related data on VNET Group (VNET) click here.

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