21Vianet Group (VNET) Misses Q2 EPS by 8c

21Vianet Group (NASDAQ: VNET) reported Q2 EPS of ($0.17), $0.08 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $137.1 million versus the consensus estimate of $128.17 million.

Financial Outlook

For the third quarter of 2016, the Company expects net revenues to be in the range of RMB900 million to RMB940 million, representing approximately 0.4% year-over-year decline at the mid-point. Adjusted EBITDA is expected to be in the range of RMB40 million to RMB60 million, representing approximately 59% year-over-year decline at the mid-point.

For the full year 2016, the Company now expects net revenues to be in the range of RMB3.62 billion to RMB3.66 billion, representing approximately 0.2% growth over 2015 at the mid-point. Adjusted EBITDA for the full year 2016 is expected to be in the range of RMB240 million to RMB260 million, representing approximately 54% decline over 2015 at the mid-point. These forecasts reflect the Company's current and preliminary view, which may be subject to change.

For earnings history and earnings-related data on 21Vianet Group (VNET) click here.

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