VNET Group (VNET) Tops Q3 EPS by 22c; offers guidance

VNET Group (NASDAQ: VNET) reported Q3 EPS of RMB0.30, RMB0.22 better than the analyst estimate of RMB0.08. Revenue for the quarter came in at RMB2.12 billion versus the consensus estimate of RMB2.02 billion.

GUIDANCE:

VNET Group sees FY2024 revenue of RMB8-8.1 billion representing year-over-year growth of 7.9% to 9.3%, and adjusted EBITDA (non-GAAP) to be in the range of RMB2,280 million to RMB2,300 million, representing year-over-year growth of 11.8% to 12.8%. Such figure in the third quarter of 2023 adjusted EBITDA included Discontinued VAT Benefits of RMB13.3 million. The year-over-year growth in adjusted EBITDA would be 16.4% to 17.4% if the Discontinued VAT Benefits were excluded from the adjusted EBITDA calculation for the same period last year.

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

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