Vnet Group Inc Reports Results For The Quarter Ended In June: Earnings Summary

VNET

27/08/2024 22:01

* VNET Group Inc  VNET.OQ  reported quarterly adjusted
earnings of
24 fen​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported EPS of
CNY-1.56.  The mean expectation of two analysts for the quarter
was for a loss of 42 fen per share. Wall Street expected
results 
    * Revenue rose 9.4% to CNY1.99 billion from a year ago;
analysts
expected $1.93 billion. 
    * VNET Group Inc shares had fallen by 0.7% this quarter and
lost 27.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 110%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the it services &
consulting peer group is also "buy"

Wall Street's median 12-month price target for VNET Group Inc is
$2.75 
This summary was machine generated from LSEG data August 27 at
09:00 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.42          0.24           Beat
 Mar. 31 2024      -0.14          -0.72          Missed
 Dec. 31 2023      -1.29          -15.88         Missed
 Sep. 30 2023      -0.51          -0.28          Beat