Boston, MA 03/06/2014 (wallstreetpr) – Last week, 21Vianet Group Inc (NASDAQ:VNET) had reported its biggest two week rally since June. It was based mainly on the assumptions that revenue will increase to a record on account of China’s increasing Internet usage. Its shares had increased by 9.1% and had climbed to as high as $26.08 the previous week. The Beijing based company had touched a record high on Feb 20.
Boom In Internet Usage
According to data assembled through the end of 2013 by China Internet Network Information Center, Internet subscribers in the country increased as much as by seven times since 2004 and have come to a record high of as many 618 million users. 21Vianet stores data for as many as 2,000 customers who include diverse industries such as internet companies, government entities, blue-chip enterprises and even small to middle size enterprises. Its customers also which include Tencent Holdings Ltd. which is the country’s biggest Internet Company. It also offers Internet hosting services and provides licenses to Microsoft Corporation (NASDAQ:MSFT)’s cloud products and services.
21Vianet Group Inc (NASDAQ:VNET) has operations in as many as 44 cities in China. Customers locate their servers and networking instruments in 21Vianet’s data centers to connect to the country’s internet backbone through its extensive fiber optic network. It provides hosting and related services, cloud infrastructure services, managed data services and delivery network services, improving the consistency, security and speed of users’ internet infrastructure. The company had reported increased sales of up to $1.96 billion last year, which was higher than many preceding years.
2013 Financial Results
China’s largest independent operator of web data centre is to announce its fourth quarter 2013 and full year 2013 financial results today at market close. 21Vianet Group Inc (NASDAQ:VNET) had announced to disclose its financial outcome for the fiscal year 2013 earlier on Feb 13, 2014. The results will be announced in a Conference Call with investors and shareholders at 8:00 p.m. Eastern Time.
