Investors were provided with an insight into VNET Group, Inc.'s (NASDAQ: VNET) second quarter performance when the company revealed its earnings today evening at the end of the trading session.
The results caught the attention of Wall Street, largely since earnings along with revenues exceeding expectations.
The establishment reported a income of $0.06 per share for the quarter, while its revenues summing into $274.35 million.
The achieved results outshined the street projected $0.06 loss per share with the $271.13 million revenue.
The topline accelerated 9.2 percent in contrast to the related quarter of previous year.
The concern has revised its revenue forecast for fiscal year 2024, updating the range from $1.08 to $1.11 billion to a newly estimated range of $1.07 to $1.10 billion. Despite that analysts on Wall Street foresee a revenue of $1.11 billion.
| Period | Type | Company Outlook |
Analysts Estimate |
Company Vs.* Analysts |
|---|---|---|---|---|
| FY 2024 | REV | $1.07 B~$1.1 B | $1.11 B | -2.1% |
*Based on mid-point
VNET Group (VNET) closed Tuesday's regular trading session at $2.00, showing a 3.85 percent fall, with a volume of 563.00 thousand shares.
