Chinese data center services firm VNET posts higher Q3 revenue, raises FY forecast

VNET

20/11/2025 08:39

Overview

VNET Q3 rev rises 21.7% yr/yr to RMB2.58 bln, driven by wholesale IDC growth

Adjusted EBITDA for Q3 increases 27.5% yr/yr to RMB758.3 mln

Company raises full-year 2025 guidance for revenue and adjusted EBITDA

Outlook

Company increases full-year revenue guidance to RMB9,550 mln - RMB9,867 mln

VNET expects full-year adjusted EBITDA of RMB2,910 mln - RMB2,945 mln

Company sees AI-driven demand as a growth opportunity

Result Drivers

WHOLESALE IDC GROWTH - Co attributes 82.7% yr/yr increase in wholesale IDC revenue to rapid delivery capabilities and fast customer move-ins

AI DEMAND - Co says it is well-positioned to capitalize on AI-driven demand, advancing its Hyperscale 2.0 framework

ORDER MOMENTUM - Co reports solid order momentum with three new wholesale orders totaling 63MW and a 32MW order from the internet sector

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
RMB 2.58 bln
Q3 Net Income
-RMB 307 mln
Q3 Adjusted EBITDA
RMB 758.30 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the it services & consulting peer group is "buy"

Wall Street's median 12-month price target for VNET Group Inc is $13.60, about 38.8% above its November 19 closing price of $8.32

Press Release: ID:nPn18hZmwa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)