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

VNET

29/05/2024 22:50

* VNET Group Inc  VNET.OQ  reported a quarterly adjusted
loss
of 72 fen​​ per share for the quarter ended in March, lower than
the same quarter last year, when the company reported EPS of 42
fen.  The mean expectation of two analysts for the quarter was
for a loss of 14 fen per share. Wall Street expected results 
    * Revenue rose 5.1% to CNY1.90 billion from a year ago;
analysts
expected CNY1.91 billion. 
    * VNET Group Inc shares had risen by 18.7% this quarter and
lost 35.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 250%
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," 4
"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
$2.80 
This summary was machine generated from LSEG data May 29 at
09:50 p.m. UTC. ​All figures in Chinese yuan renminbi 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
 Mar. 31 2024      -0.14          -0.72          Missed
 Dec. 31 2023      -1.29          -15.88         Missed
 Sep. 30 2023      -0.51          -0.28          Beat
 Jun. 30 2023      -0.38          -1.56          Missed