VNET Group Q2 2023 Earnings Report

VNET Group EPS Results

• Actual EPS: -$0.24
• Consensus EPS: -$0.04
• Beat/Miss: Missed by -$0.20
• One Year Ago EPS: N/A

VNET Group Revenue Results

• Actual Revenue: $251.23 million
• Expected Revenue: $264.65 million
• Beat/Miss: Missed by -$13.42 million
• YoY Revenue Growth: N/A

VNET Group Announcement Details

• Quarter: Q2 2023
• Date: 8/23/2023
• Time: N/A

VNET Group (NASDAQ:VNET), an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet. The company also provides server administration services, such as operating system support and assistance with updates, server monitoring, server backup and restoration, server security evaluation, firewall services, and disaster recovery services. It serves information technology and cloud services, communications and social networking, gaming and entertainment, e-commerce, automobile, financial services, and blue-chip and small-to-mid-sized enterprises; government agencies; individuals; and telecommunication carriers. The company was formerly known as 21Vianet Group, Inc. and changed its name to VNET Group, Inc. in October 2021. VNET Group, Inc. was founded in 1999 and is headquartered in Beijing, the People's Republic of China.